Gold in bullish trend

Stock Markets around the Globe

Market shall be bearish till UK opening. After UK opening, watch the trend. If it appears that there’s a recovery then highly bullish trend would be observed. In case, recovery isn’t seen, sharp decline shall continue.

On Monday, market shall be slightly bearish.

BUY S&P500 with stop loss 1,836 for target 1,870+.

TRADING RANGE:

• DOW(FUT): 16,110-16,220
• S&P500 (FUT): 1,840-1,870
• NASDAQ(FUT):3,640-3,685
• NIFTY (SPOT):6,450-6,520
• FTSE (FUT): 6,550-6,620
• CAC40(FUT):4,220-4,280
• DAX (FUT):8,940-9,140
• HANG SENG (FUT):21,400-21,750 (SELL AT CLOSI NIG FOR MONDAY)
  ALERT: AFTER 12.00 PM, WATCH THE TREND FOR 30 MINUTES.

PRECIOUS METALS

Bullion could trade highly bullish today.

Gold could go to 1,388 to 1,390.

In case, GOLD doesn’t reach 1,388, book 50% profit and hold rest 50% for Monday.

In case, SILVER doesn’t reach 22.00, book 50% profit today at higher level and hold rest for Monday.

TRADING RANGE:

• GOLD:1,365-1,388
• SILVER: 21.10-21.60-22.00

INDUSTRIAL METALS

Major support for Copper is 2.90; Hold Copper with s/l 2.90 for today and next week.

TRADING RANGE:

• COPPER:2.91-2.96

ENERGY PRODUCTS

CRUDE OIL

Crude Oil shall be positive till 19^th March 2014.

HOLD LONG POSITION WITH S/L 97.20.

By next week, Crude could go cross $101/bbl.

NATURAL GAS

NG shall remain volatile.

If NG takes support at 4.30 and moves up, it shall be positive & go up to 4.70, else, it shall drop to 4.10.

TRADING RANGE:

–          OIL:97.50-99.00

–          NG:4.32-4.60

•  CURRENCIES

EURO

From 12.00 PM IST, EUR/USD shall move in positive direction. With stop loss of 1.3820, long EUR/USD.

INDIAN RUPEE (USD/INR)

BOOK PROFIT IN LONG POSITION @ 61.40.

SELL USD/INR ON RISE WITH S/L 61.60.

DOLLAR INDEX

Sell Dollar Index on rise.

TRADING RANGE:

• EUR/USD: 1.3840-1.3900
• USD/INR: 61.50-61.20
• DOLLAR INDEX: 79.90-79.40
  
  

TREASURY BOND: From UK opening, watch bonds. If then onwards, it moves negative, sharp decline shall be observed till late US closing.
 INDIAN STOCK MARKET

Up-to 12.30 HRS IST, bearish trend shall be observed. And then onwards, watch the trend. If recovery comes, closing shall be positive else declining trend shall continue till closing.

NIFTY FUT IF BREAKS 6,470 THEN SHALL DROP TO 6,420.

BANK NIFTY IF BREAKS 11,800 THEN SHALL DROP TO 11,500 & BELOW.

In the first half, weakness shall continue in DLF, TATA MOTORS, LIC, MPHASIS.

Watch the trend around 12.30 HRS IST, if recovery comes, cover your short position.

BUY:

–          RANBAXY

–          AUROBINDO PHARMA

–          ITC

Updated @ 3/14/2014 7:37 AM|Authors: – Rajeev Prakash Agarwal, Shashi Prakash Agarwal