Stock Markets around the Globe

As said previously, US market crashed. UK and other global indices closed in negative mood.

For today, Asian and UK market shall be weak.

You shouldn’t make any long position for Monday as the current weakness may continue up-to Monday.

It is recommended to short at higher levels.

TRADING RANGE:

• DOW(FUT):16,220-15,980
• S&P500 (FUT): 1,836-1,810 & BELOW
• NASDAQ(FUT):3,635-3,590 & BELOW
• NIFTY (SPOT):6,345-6,290 & BELOW
• FTSE (FUT): 6,800-6,700
• CAC40(FUT):4,298-4,260
• DAX (FUT):9,700-9,590
• HANG SENG (FUT):22,700-22,300

• Ø PRECIOUS METALS

Today, volatile to positive trend shall be seen. This trend shall continue on Monday as well.

TRADING RANGE:

• GOLD: 1,252-1,268

SILVER: 19.80-20.30 & ABOVE

• Ø INDUSTRIAL METALS

Copper and other base metals shall enter in positive trend from today. It shall be positive for Monday as well.

TRADING RANGE:

• COPPER: 3.28-3.34 & ABOVE
• Ø ENERGY PRODUCTS

Crude Oil shall trade volatile to positive for today. Weakness is indicated in OIL & NG from Monday. Hence do not keep any long position for Monday.

TRADING RANGE:

• CRUDE OIL:96.50-98.50
• NG:4.72-4.88  & ABOVE
• Ø CURRENCIES

We had said that EUR/USD shall move upward last day, that very trend shall continue for today as well.

You can short EUR/USD around 1.3720 as from Monday, EUR/USD shall drop.

For today, Dollar Index shall remain weak. From Monday, it shall bounce back.

TRADING RANGE:

• EUR/USD: 1.3630-1.3720
• USD/INR: 61.80-62.20
• DOLLAR INDEX: 80.75-80.20

• Ø US TREASURY BOND

Bonds shall trade volatile to positive for the day. It should be noted that next week as well, US Treasury bond shall be positive.

• Ø INDIAN STOCK MARKET

Today, Indian stock market shall be volatile to bearish.

TRADING RANGE:

• NIFTY(FUT): 6,350-6,290 & BELOW
• BANK NIFTY:11,250-11,000

SELL AT HIGHER LEVEL:

–          YES BANK

–          RANBAXY

–          DABUR

–          SBI

–          TATA MOTORS

{Profit book in short position soon as bounce back may be seen from lower levels and also avoid long positions as on Monday, Indian stock market can be negative}

Sent at 1/24/2014 7:05 AM(IST)