PRECIOUS METALS

It’s time that we need to revise our view on bullion.

We feel that Gold will not breach 1,310 this week and Silver will not breach 20.80 this week.

The next week is positive for bullion.

INTRA-DAY VIEW:

Bullion is positive till UK opening. Slight declining trend shall be seen from UK opening and up-to COMEX opening.

From US Jobless data, bullion shall shoot up.

With stop loss of 20.78, make long position in Silver.

Buy 50% SILVER @ 21.10-21.25 and rest 50% @ 20.90-21.00 for intra-day target 21.45 & next week’s target 22.00.

Buy GOLD with stop loss 1,310.

BUY 50% GOLD @1,329-1,330 & rest 50% @ 1,318-1,320 for intra-day target 1,338-1,345.

For tomorrow, the trend may be a zigzag.

The best strategy could be to book profit in 50% position today itself and hold the rest.

As per our analysis, bullion shall have positive opening tomorrow.

TRADING RANGE:

#GOLD : 1,318-1,338+

#SILVER:20.90-21.45+

Stock Markets around the Globe

Global equities shall be volatile to positive till UK opening.

And then onwards, zigzag trend is expected.

Today, US market can close flat to negative. For next day as well, range bound trend is expected.

Tomorrow, closing can be positive.

In next week, positive trend is expected for stock indexes.

Book profit in S&P500 FUT @1,967-1,972.

And make long position in S&P500 FUT @ 1,955-1,960 with stop loss 1,947.

Hold this position for target 1,975.

TRADING RANGE:

–  DOW FUT: 16,950-16,850

– S&P500 FUT(SEP): 1,973-1,955

– NASDAQ FUT(SEP): 3,895-3,860

-FTSE FUT: 6,650-6,720

-CAC FUT : 4,350-4,378

-DAX FUT: 9,790-9,850

-HANG SENG:23,100-23,400

– AEX:409-413