Global Stock Indices:

Today, Asian markets can experience weakness in first half but second half shall be positive.

UK market shall open positive but profit booking shall be observed in closing hours.

US market didn’t experience the weakness that we were expecting and hence those who are short in S&P500 are advised to use stop loss 1,662.

Today, we expect a slight profit booking in US market.

A fall can come in US market tomorrow however Asian market to be positive tomorrow.

Today, US shall be range bound and volatile.

VIEW ON PRECIOUS METALS

As mentioned in the weekly letter, precious metals experienced sharp fall.

Today till UK opening, bullion shall be range bound.

After UK opening, bullion shall be in bearish trend and sharp could be observed till night.

This weakness shall continue for tomorrow as well. Bullion can have gap down opening tomorrow.

 

Today’s Trading Range:

GOLD:1,404-1,380 & BELOW

SILVER:23.10-22.50 (If breaks 22.50 then can go down to 22.20. As per astrology, Silver can go below 22.00 in next 1 -2 days.)

View on Base Metals:

Base metals shall be volatile and again weakness shall continue for the day.

Today’s Trading Range:

-COPPER: 329-323 & BELOW

View On Energy Products:

NG shall experience bullish trend. Hold your long position in NG.

SELL Crude Oil on rise. Yesterday, we recommended shorting Oil, which was a right view.

Trading Range:

-CRUDE OIL: 95.60-91.80

-NATURAL GAS: 4.04-4.15

Currencies:

Sell EUR/USD on rise.

Volatile trend is expected in USD/INR (SPOT).

Today’s Trading Range:

EUR/USD: 1.2940-1.2850 (IF breaks 1.2830 then can go down to 1.2760)

USD/INR (SPOT):54.55-54.90

 

 

 

View on Indian Stock Market:

Yesterday, Indian stock market had phenomenon bullish trend.

Today, till 11.30 HRS (IST), some weakness could be observed. But then onwards, it shall again be positive and close positive as well.

Tomorrow as well, Indian stock market shall be positive.

ALERT: Till 30^th May 2013, heavy volatility is expected. Please trade with caution.

Trading Range:

Nifty (FUT): 6,120-6,180+ (Technically above 6,130 can go 6,220. Nifty’s support is at 6,065)

Bank Nifty (FUT): 13,000-13,220

BUY:

–          KARNATAKA BANK

–          TATA MOTORS

–          OBC

–          APOLLO TYRES

–          RELIANCE CAPITAL

–          RCOMM

–          WOCKHARDT

–          RANBAXY

–          YES BANK

–          BAJAJ AUTO

Some weakness is possible in realty sector.

(Updated at : 16/05/2013 7:56:18 AM (IST))

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