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Market Wrap:

·         Gold rose for a second day on speculation

·         Silver for immediate delivery gained 0.2 percent

·         Crude oil climbed a fourth day trading above 101$

·         Copper futures sank 0.5%

·         Natural gas raise almost 1% on Wednesday

·         Sharp decline in crude oil inventory

Gold rose for a second day on speculation that political tension in Egypt and the debt crisis in Europe may spur demand for haven assets, while holdings in the largest bullion-backed exchange-traded product held steady. Spot gold gained as much as 0.4 percent to $1,258.35 an ounce. Silver for immediate delivery gained 0.2 percent to $19.8125 an ounce after climbing 1.9 percent yesterday. Crude oil climbed a fourth day, holding at a 14-month high, on concern the ouster of the Egyptian president boosts prospects of a disruption in supplies from the region. Tin for three-month delivery slipped 0.8 percent. Copper futures sank 0.5 percent.

TECHNICAL VIEW

GOLD (AUG) 

Trend       • Consolidate
Strategy      • Sell on high

Resistance  • R2 - 26780 ;  R1 - 26450
support       • S1 – 25850 ; S2 – 25580

SILVER (JUL)

Trend          • Consolidate

Strategy      • Sell on high       Resistance  • R2 - 43450; R1 - 42270             
support       • S1 - 40850; S2 – 39500

STOCK CASH PLUS CALLS 04-07-2013

BUY UNITED BREWERIES (LCP 840.8) ABOVE 842 TG-849-857

BUY JSW STEEL (LCP-610.7) ABOVE 612 TG-618-625

BUY MARUTI (LCP-1560.95) ABOVE 1563 TG-1573-1586

BUY LUPIN (LCP-830.45) ABOVE 832 TG-838-845

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