View on 21st April 2014

Sent on Monday, April 21, 2014

Stock Markets Around the globe

S&P500 may make a top today. It may go up to 1,880-1,885.

From any time next day, a drop would be seen. This negative trend shall last till 24^th April 2014.

The fall can be magnificent.

With stop loss of 1,896, short S&P500 @ 1,880-1,885 and hold till Thursday.

Make short position in HSI at closing hour with stop loss 23,100.

TRADING RANGE:

–          DOW FUT: 16,420-16,350

–          S&P500 FUT: 1,872-1,855

–          NASDAQ FUT: 3,565-3,500

–          HANG SENG: 22,950-22,600

–          NIFTY SPOT: 6,820-6,750

PRECIOUS METALS

Bullion shall recover gradually for the day.

From next day’s US opening, a bounce back shall be seen in bullion.

It shall remain positive till Thursday.

On 25^th, a sharp correction could be seen in bullion.

With stop loss of 1,275 & 19.10 hold long position in GOLD & SILVER respectively.

TRADING RANGE:

–          GOLD : 1,278-1,305

–          SILVER: 19.15-19.55

INDUSTRIAL METALS

Copper shall follow the trend of bullion.

Major Support for Copper is at 2.97.

If 3.07 is crossed then Copper shall turn highly bullish and it could shoot up to 3.20 or above.

Trading Range:

–          COPPER:3.01-3.05

ENERGY PRODUCTS

CRUDE OIL

If Crude Oil doesn’t break 103.00 and crosses 104.80 then shall cross 106.00 and above.

Crude shall also follow bullion.

NATURAL GAS

Mixed trend shall be seen in NG for this week.

Monday shall be positive for NG.

On Tuesday, profit booking shall be seen.

Wednesday and Thursday are positive for NG.

On Friday, profit booking is expected.

Trading Range:

–          CRUDE: 103.00-104.50

–          NG: 4.65-4.80

CURRENCIES

EURO

Buy EUR/USD on dips.

INDIAN RUPEE (USD/INR)

Buy USD/INR on dips.

DOLLAR INDEX

SELL DOLLAR INDEX on rise.

TRADING RANGE:
– EUR/USD: 1.3750-1.3850

-USD/INR(SPOT): 60.10-60.40

-DOLLAR INDEX: 80.00-79.75

US TREASURY BOND

Bonds shall move upward from today.

INDIAN STOCK MARKET

Today, Indian stock market shall be positive.

Any time from tomorrow, correction shall be observed, which shall last till 24^th April 2014.

SHORT NIFTY FUT WITH S/L 6,850.

SHORT BANK NIFTY WITH S/L 13,100.

INTRA-DAY BUY:

-TATA MOTORS

-RELIANCE CAPITAL

-HINDALCO

– BHEL

Updated at 4/21/2014 7:35 AM| Authors: – Rajeev Prakash Agarwal, Shashi Prakash Agarwal