Market Pearl

Gold & Silver both precious metal down after touch intraday high. Crude Oil in bullish trend after down, as per oil companies announcement for prices cut down in petrol crude oil prices go up in Indian Commodity market(MCX). Crudeoil trade with 1.83% plus as compare to last trading hours. While In base metals copper & nickel both are on again in positive phase. Copper seems bullish from this point, copper is good option for buying in near future as comparison to nickel & lead.

Silver slightly move up from the level of 56600, here it may recover its little position. MCX silver may be touch 60000 in 10-15 days if silver break 58650 then it will cross defiantly 60000. For todays we suggest buy silver for the target of 57650 with Stop loss 57220. Gold maintain its positive trend, it trade in bullish mode. On dollar strangeness gold perform better then silver, we expect that it will trade near about 28500 to 29500. Indian Market NSE index in consolidate phase, because of dollar position currency trading going low. Traders are not interest for fresh buying.

ICICI Tomorrow ICICI can hold for tomorrow, it can move upward in near future. It is a good buy from a medium to long term perspective. Short term jitters might be because of news flow rather than fundamentals. Quarterly numbers have been in line with expectations. Buy with a target of 1100 in 9-12 months. Silver Updates Silver trading was on bullish mode, silver demand same as last trading day. Silver will touch 58000 very soon. Silver rose nearly 1% on demand for the metal as a safe haven investment away from market turmoil as the euro zone troubles deepened.  In the local market, some support seen from base metal counter also which lead the rally.

Reliance Industries Buy for Tomorrow The stock is underperforming due to overhang of allegations. It is attractively priced at 4.5 time of FYRs.13 PE. The firm has received recent renewal of distribution licence in Mumbai for 25 years. It has got permission to hike tariffs in Delhi by 22% . Buy with a target of Rs. 723. Ril Buy at CMP for the target of 900 & 911.50 with SL - 885.00 Bharti Aritel The stock tried to breach its support levels in today's trading session, one could hold the short positions in the stock till it crosses the level of 497 in upside as it is expected to move till the levels of 378-375 in near term.

Buy SBI @ 1907.10 for Target of 1921.05 & 1935.45 With SL - 11890.00 All negatives with regard to hefty provsioning, low capital adequacy and saving a/c de-regulation are built in the prices. Going forward, the provisioning will come down and bank may report healthy bottom line. The Centre has plans to infuse required capital very soon No negative surprises expect now. The bank is tightening belt to stop slippages and improve recovery mechanism by again shifting recovery onus to branches. Buy with 1 year target of Rs. 2800.

COMEX prices surrendered some of last week’s gains amid risk aversion and Japan’s finance ministry surprising markets by intervening to sell JPY, said Barclays Capital in a briefing. Prices succumbed to a stronger dollar as it makes dollar-denominated commodities look expensive for holders of other currencies. Spot Silver prices slipped more than 3 percent on Monday and bears are expected to dominate this metal for the time-being as it is taking cues from various factors. The correlation between Gold prices and the dollar has also strengthened further into positive territory, with the one-month rolling correlation hitting 19% on Monday and the six-month rolling correlation turning positive after for the first time in almost two months.