Precious Metals and Stock Market on 21st January 2014

Stock Markets around the Globe

Today, Asian stock market shall trade in a highly volatile manner for the first half of the trading session. However, in the second half, it would experience declining trend.
Slight recovery may be seen from closing hour.
Tomorrow, positive opening is indicated.
UK market shall be volatile to bearish.
US market is expected to open negative but recovery shall start from opening. Closing could be slightly positive.
SELL S&P500 AROUND 1,840-1,845 FOR TGT 1,830-1,825. AROUND 1,825-1,830, YOU SHOULD LONG S&P500 FOR TGT 1,840-1,845.
TRADING RANGE:
-DOW(FUT):16,395-16,450
– S&P500 (FUT): 1,842-1,829
– NASDAQ(FUT):3,570-3,605
– NIFTY (SPOT):6,320-6,280-6,250
– FTSE (FUT): 6,805-6,760
– CAC40(FUT):4,345-4,320
– DAX (FUT):9,800-9,730
– HANG SENG (FUT):23,130-22,900 { At closing, you can add long position in HSI}

PRECIOUS METALS

Precious metals shall be volatile to bearish.
Some recovery may be seen from late US hours.
Cover your short position in gold, silver around 1,240-1,230, 20.00-19.80 & make long positions at lower levels.
From the next day, positive trend shall be seen in precious metals.
TRADING RANGE:
– GOLD: 1,258-1,240-1,229
– SILVER: 20.40-20.00-19.80

INDUSTRIAL METALS

Copper shall trade volatile to positive.
TRADING RANGE:
– COPPER: 3.32-3.36

ENERGY PRODUCTS
Hold long position in Crude Oil with s/l 92.00 for tgt 97.00.
With a stop loss of 4.20, make long position in NG.
TRADING RANGE:
– CRUDE OIL:93.40-95.00
– NG:4.24-4.38

CURRENCIES
Sell EUR/USD on rise.
Around late US hours, Dollar Index shall move in negative
trend.
TRADING RANGE:
– EUR/USD: 1.3580-1.3520 & BELOW
– USD/INR: 61.45-61.85
– DOLLAR INDEX: 81.00-81.45

US TREASURY BOND
Bonds are expected to be volatile for the day. However,
from, late US hours, Treasury bonds shall decline.

INDIAN STOCK MARKET
Indian stock market shall be highly volatile till 12.00 PM.
And from 12.50 PM to 14.00 PM, sharp decline shall be
seen.
And then, some recovery is expected.
Tomorrow, slightly positive opening is expected for the
Indian stock market.
TRADING RANGE:
– NIFTY(FUT): 6,340-6,280-6,250
– BANK NIFTY: 11,140-10,900 & BELOW
BUY:
– FEDERAL BANK S/L 81 TGT 85-88
– HIND ZINC S/L 131 TGT 138 – 142
– RANBAXY S/L 400 TGT 420-430
– SESA STERLITE
– WIPRO

SELL AT HIGHER LEVEL:
– SBI
– DLF S/L 161 TGT 153-150
– TATA STEEL

Updated at 1/21/2014 7:11 AM (IST)