WILL GOLD REACH 1220?

GLOBAL STOCK INDICES

Since last day, a correction has started. S&P500 FUT made a low of 2,111. For today as well, correction is expected to continue. With s/l of 2125, hold short position in S&P500 for target 2090.

From next day, market shall again trade in positive trend.

Next Monday shall also be positive.

From 2^nd July, a sharp correction is indicated, which may continue till 10^th July 2015.

PRECIOUS METALS

Monday and Tuesday were expected to bring pressure in price of bullion.

Today on-wards, recovery is indicated from lower levels.

For tomorrow & day after tomorrow, positive trend is expected, which may last till 29^th June 2015.

One of the most bullish days for this week could be Friday or it may be postponed to next Monday. The level of 1200 & 16.45 shall be respectively crossed by Gold & Silver anytime by 29^th June 2015. S/L for long position in GOLD: 1168 & SILVER: 15.60.

After 30^th June, correction may be seen. In early July, a big correction is expected which may last till 10^th June 2015.

Jupiter shall enter Leo on 15^th July 2015. From this point, bullion shall enter in a long term bull trend. The top would be made around October 2015.

INDUSTRIAL METALS

Copper has taken a U turn from lower level. It shall be positive till end of this week.

Maintain stop loss of 2.58 with long position in Copper.

CURRENCY-PAIRS 

EURO (EUR/USD)

EUR/USD shall start to move up today and remain positive till Friday.

Buy EUR/USD with s/l 1.1120 for target 1.1350.

INDIAN RUPEE (USD/INR)

Hold long position in USD/INR for target 64.20 with s/l 63.30.

In the month of September, USD/INR will make the top and it may cross 68.

DOLLAR INDEX

It shall move in negative direction from today. It shall continue to be weak till weekend.

US TREASURY BOND 10 YR

Bonds shall trade in positive trend for this week. It shall remain upward till weekend.

INDIAN STOCK MARKET

It is an uncertain or negative day for Indian stock market.

From next day, trend shall again be positive.

On Friday, volatile to positive trend is expected.

In the month of July 2015, a sharp correction is expected from 1^st / 2^nd July 2015, which may last till 10^th July 2015.

SELL NIFTY (for intra-day) with s/l 8422 for target 8330 and if 8320 is breached, it may drop to 8250.

SELL BANK NIFTY with s/l 18510 for target 18200 and below.

TRADING RANGE:

• NIFTY FUT:——-
• BANK NIFTY: —–

BUY ON DIPS:

• CHENNAI PETRO
• COALINDIA
• AUROBINDO PHARMA
• TATA STEEL
• MARUTI S/L 3980

SELL:

• BHEL S/L 248