CHANA JUNE : SIDEWAYS
 
RESISTANCE 2 : 4350
RESISTANCE 1 : 4290
SUPPORT 1 : 4190
SUPPORT 2 : 4150
 
JEERA JUNE : SIDEWAYS
 
RESISTANCE 2 : 13000
RESISTANCE 1 : 12850
SUPPORT 1 : 12630
SUPPORT 2 : 12500

SOYABEAN JUNE : UP

RESISTANCE 2 : 3460
RESISTANCE 1 : 3410
SUPPORT 1 : 3330
SUPPORT 2 : 3285

PEPPER JUNE : SIDEWAYS

RESISTANCE 2 : 40100
RESISTANCE 1 : 39800
SUPPORT 1 : 39200
SUPPORT 2 : 38800

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GOLD JUNE : UP

RESISTANCE 2 : 29450
RESISTANCE 1 : 29300
SUPPORT 1 : 29000
SUPPORT 2 : 28830
 
SILVER JULY. : SIDEWAYS
 
RESISTANCE2 : 56000
RESISTANCE1 : 55150
SUPPORT1 : 53850
SUPPORT2 : 53100

COPPER JUNE. : DOWN

RESISTANCE2 : 427
RESISTANCE1 : 425
SUPPORT1 : 421
SUPPORT2 : 418

CRUDE JUNE. : DOWN

RESISTANCE2 : 5050
RESISTANCE1 : 5000
SUPPORT1 : 4900
SUPPORT2 : 4855

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Markets traded on a flat note with negative bias ahead of F&O Expiry and Q4 GDP data. Nifty Future moved in the tight range of 4960-4930 for the whole session. If it sustains above 4900 then immediate resistance is found around 4970 while 5015 will act as strong resistance. Amid volatility is expected due to May expiry series. However, if it falls below 4900 mark then we expect to trade nifty in the support range of 4875-4840.


TREND: SIDEWAYS


SUPPORT : 4875 & 4840 RESISTANCE: 4970 & 5015

 

Major Market News –

Sensex down 46 points; Tata Motors plunges 11%.
Colgate Palmolive Q4 profit climbs 15%.
Havells Q4 profit climbs 35.6%.
United Spirits Q4 profit plunges 83.3%.
Tata Motors sinks on weak JLR margin.
ONGC stock up 2% on robust Q4 earnings.

 

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CHANA JUNE : SIDEWAYS

RESISTANCE 2 : 4370
RESISTANCE 1 : 4320
SUPPORT 1 : 4230
SUPPORT 2 : 4170

JEERA JUNE : SIDEWAYS

RESISTANCE 2 : 13100
RESISTANCE 1 : 12900
SUPPORT 1 : 12525
SUPPORT 2 : 12180

SOYABEAN JUNE : SIDEWAYS

RESISTANCE 2 : 3460
RESISTANCE 1 : 3410
SUPPORT 1 : 3310
SUPPORT 2 : 3270

PEPPER JUNE : SIDEWAYS

RESISTANCE 2 : 40900
RESISTANCE 1 : 40250
SUPPORT 1 : 39400
SUPPORT 2 : 38700

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GOLD JUNE : SIDEWAYS

RESISTANCE 2 : 29200
RESISTANCE 1 : 29050
SUPPORT 1 : 28700
SUPPORT 2 : 28550

SILVER JULY. : SIDEWAYS

RESISTANCE2 : 55500
RESISTANCE1 : 54750
SUPPORT1 : 53300
SUPPORT2 : 52700

COPPER JUNE. : SIDEWAYS

RESISTANCE2 : 434
RESISTANCE1 : 431
SUPPORT1 : 427
SUPPORT2 : 425

CRUDE JUNE. : SIDEWAYS

RESISTANCE2 : 5200
RESISTANCE1 : 5150
SUPPORT1 : 5050
SUPPORT2 : 5000

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Indian Markets could not hold near to their resistance levels rather showed choppy movements for the whole session. Although, Nifty future entered into positive terrain after European opening but faced stiff resistance at 5000 level and gave flat closing. To gain strength, it is essential to sustain above 5000 then it may lead towards the higher levels of 5085 while if it consolidates in the range of 4980-4930 then it may enter in the weak zone and may drag towards 4865.

TREND: SIDEWAYS

SUPPORT: 4930 & 4865 RESISTANCE: 5030 & 5085

Major Market News –

Sensex gains 105 points; Realty, IT rally.
Bajaj Electricals tanks on weak Q4 numbers, down 7%.
Engineers India Q4 profit rises 15%.
Indian Hotels Q4 profit drops 30.6%.
Fortis Healthcare gains on Q4 results, spinoff plans.

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The rupee has been the worst performing currency in Asia during the last 12 months, having fallen most against the US greenback. However, a sharp depreciation has not been peculiar to India with most of the world's major currencies falling against the dollar during this period. The global situation partially explains RBI's stance to remain relatively unflustered despite an 18% drop in 12 months. The dollar index, which is measured against a basket of currencies including euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc, has gained 8.52% in the last one year.
Major Market News –
Most global currencies have fallen against dollar.
Rupee strengthens for second session, RBI intervenes.
Euro dips below $1.25 on Greek, Spanish woes.
Sterling hovers above 2-mth lows vs dollar.
 Rupee off lows; exporters, foreign banks sell.
USDINR –
USDINR after making lifetime high resisted near 56.5000 level and rebounded towards 55.0000. On daily charts, it has tested the trend line acting as support and is it breaks this support of 55.2100 then it may drag towards the next support of 54.5825. On higher side, 55.8800 is seen as resistance for it.
EURINR –
EURINR also reversed from its previous highs of 71.1000 and took support at the trend line coming from its previous lows on its daily charts. If it holds below the support of 69.3900 then it is expected to test the level of 68.7025-68.2100 while a reversal from this trend line can lead it towards the resistance of 70.1700.
INTERNATIONAL UPDATES –
Euro Suffers Biggest Loss of Year on Concern About Spain, Greece Turmoil.
Pound Reverses Earlier Decline Against Euro; Advances 0.1% to 79.93 Pence.
Asian Currencies Drop a Fourth Week as EU Crisis Hurts Exports.
Brazil’s Real Rises Past 2 Per Dollar as Central Bank Sells Currency Swaps.

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Copper traders are bearish for a second week after mounting concern that slowing growth in China and Europe would curb demand drove prices to a four-month low. Nine of 18 analysts surveyed by Bloomberg expect the metal to drop next week and three were neutral, the first consecutive negative outlook since April 6.
Hedge funds and other money managers cut their wagers on higher prices by 69% in the week ended May 15, the most in a month, Commodity Futures Trading Commission data show.
Raw materials slipped to a five-month low this week and more than $4.3 trillion was erased from the value of global equities this month on concern that Greece will exit the euro as the region's debt crisis deepens. Manufacturing in the 17-nation euro area slumped to the weakest in almost three years this month and may shrink for a seventh month in China, which accounts for about 40% of global copper consumption.
"Europe has become a more immediate concern. Most people in the copper market were already concerned about the outlook in China. We're looking for prices to find a floor at lower levels in the next couple of months."
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In more bearish news for oil, Saudi Arabia's oil minister Ali Al-Naimi has stated that crude oil inventories could rise further. Saudi Arabia is one of the biggest producers of oil in the world.
Market watch reports Al-Naimi as saying that since a pickup in oil demand is expected in the third and fourth quarter of 2012, crude oil stockpiles are likely to be increased further in anticipation.
Naimi's comment reveals one interesting point- that the supply is high. Considering that it is only from excess supply that stocks for inventories are buildup, this oversupply could prove to be bearish for oil prices, which have in fact been falling for the past days. An earlier report by the Organization of Petroleum Exporting Countries (OPEC) also stated that the current supply situation in the market is comfortable. OPEC oil production is at its highest since 2008.
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Gold prices rose back above $1,565 an ounce on Friday, snapping four sessions of losses and temporarily decoupling from the euro, as investors saw the precious metal's current price as a buying opportunity after its recent fall. Spot gold was up 0.5% at $1,565.61 an ounce at 1338 GMT, having fallen towards $1,530 earlier this week as worries that Greece could exit the euro zone hurt the euro and boosted interest in the dollar as a haven from risk. Gold remains on track for a 1.9% loss this week. The $1,540 level held intact yet again earlier this week, and even though there is no overwhelming physical support, or indeed investor interest, these levels are starting to look attractive, with some modest buying on the lows. Worries over the euro zone's financial health have plagued the single currency this year. Concerns about Greece leaving the euro zone prompted macro funds, real money and institutional investors to ramp up selling of the currency this week after an inconclusive election left the country at risk of bankruptcy. Such fears were instrumental in sending gold to a record high last year, but since January it has tended to react negatively to bad news from the euro zone, as investors turn to the dollar, Treasuries and German bunds as alternative havens.
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