Stock Markets Around the globe

Owing to Scorpio Moon (for today and next day), volatility is indicated in global stock markets.

By Thursday, a big upside move is possible. S&P500 cross 1,945-1,955 in this time frame.

US closing for today is expected to be positive.

Asian opening can be positive for next day.

PRECIOUS METALS

Today, slight upward move is expected from 11.00 HRS IST.

However, overall, zigzag pattern may be seen for today and tomorrow owing to Scorpio Moon.

However on Thursday & Friday, a big upside move is possible.

BUY PRECIOUS METALS ON DIPS.

Next day’s opening for bullion is expected to be positive (Asian).

INDUSTRIAL METALS

August is highly bullish for Copper.

Copper may cross 3.40 in this month and hence it is advisable to hold long position.

Lead, Zinc & Aluminum are positive for the month of August 2014. 

CURRENCIES

EURO

EUR/USD shall be supportive. Big move is possible on Thursday.

INDIAN RUPEE (USD/INR)

Weakness shall continue in INR against USD.

Continue holding long position in USD/INR.

DOLLAR INDEX

Dollar index may experience a gradual downside move till Thursday.

TRADING RANGE:

– EUR/USD: 1.3400-1.3440

-USD/INR(SPOT):60.80-61.20

-DOLLAR INDEX: 81.50-81.20

US 10 YR-TREASURY BOND

Bonds shall be slightly supportive for today and tomorrow.

Sharp decline is possible on Thursday.

INDIAN STOCK MARKET

Today, Indian market shall be highly volatile.

We expect the market to shoot up after RBI policy.

Any time in this week, a big positive may be seen. Hence, hold long position.

TRADING RANGE:

# NIFTY AUG FUT: 7,640-7,750

# BANK NIFTY:15,100-15,500

BUY:

-RELIANCE CAPITAL

-CENTURY TEXTILE

– CESC

– INFOSYS

– TATA MOTORS

– SBI

–  YES BANK

– BANK OF INDIA

– KOTAK BANK

–  TATA STEEL

– HDIL

– TATA POWER