PRECIOUS METALS

As expected, bullion had a positive trend till 19.00 HRS IST. Gold made a high of 1,220 while Silver made a high of 17.35.

From there, it went down to 1,205 and to 17.10.

Today, Gold and Silver shall be supportive till 18.00 HRS IST. And then profit booking is expected.

Till 17 / 24^th October 2014, I see GOLD & SILVER crossing 1,280 & 19.40 respectively.

Positional traders are advised to long 50% here (GOLD@1,220-1,222, SILVER @ 17.35) & rest 50% at (GOLD @1,205.  & SILVER @ 17.10).

Hold this long position till 17^th / 24^th October 2014.

You will be informed of when you are expected to exit.

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GLOBAL STOCK INDICES

Global markets shall be volatile for the day.

Slightly supportive trend is expected for today and tomorrow.

Uncertainty shall continue till 17^th October 2014.

Any time, global equities could face a drop.

It is only after 17^th that we can expect a one sided bull trend.

The S&P500 long you made last eve @ 1,920. Hold it with stop loss 1,955 for target 1,975-1,980.

INDIAN STOCK MARKET

Indian market shall experience pressure in first half with positive opening.

In the second half, recovery is expected.

TRADING RANGE:

# NIFTY FUT: 7,880-7,980

# BANK NIFTY: 15,200-15,550

BUY:

–  SBI

–  TATA STEEL

–  BHARAT FORGE

–  UNION BANK

– APOLLO TYRES