NIFTY FUTURE VIEW

Nifty closed up 16.50 points at 5983.55 while Nifty futures closed at 5985.40, premium of 1.85 points. FIIs sold in Cash, net sell for the first time is 238.56 Crore while DIIs as always sold in Cash, net sell 132.79 Crore. FIIs sold in Index Option, Stock futures but bought in Index futures, net sell 1348.32 Crore.

Nifty  will face minor hurdles at 6041, 6100. If it sustain above 6100 with volume, then short covering is expected in the bear hammered stocks. Hence fantastic opportunity is available for some quick profit. Nifty will find support at 5940 and 5881 level.

 Today's View

If Nifty Will break the level of 5936 and trades above 5960…then immediate Resistance are 6015 and 6027….

Intraday Support 5955-5966 and could move slide to 5940-5930.

INTRADAY VIEW

Buy KARNATAKA BANK Around 142.00 TGT 149.00 SL 139.00 

Buy USDINR Around 55.50 TGT 55.85 SL 55.35

Buy ZINC Around 101.50 TGT 103.00 SL 101.00

METALS VIEW

GOLD (CMP: 26406):Gold recovered strongly from being on the verge of 25270 low it
made on 16 April 2013, as it rebounded from 25373. It went to 26677. Gold is likely to
touch 27000 in coming Week, on downside it can find support near 25750.

SILVER (CMP 43473): Silver made new lows of 2013 as it touched 40749 on 20th
May.Its bounce was equally sharp as it went to 44600 on 22 May. Silver has good
support near 42400, on upside if it sustains above 44600, it may move towards 45700.

CRUDE (CMP 5268):A stronger economic sentiment in global arena is resulting in
more demand for Crude. Crude was in tight range. It made weekly low of 5167 and high
of 5384. In coming days, strength can be seen. Crude can move to 5400-5450.

COPPER (CMP 407.85): Copper was another strong performer for the week. Though it
showed tiredness near 421. Copper has good support near 400. It is likely to be in range
400-420 next Week.

NICKEL (CMP 822.5): Nickel has remained in 810-850 range. There is good support
near 800 and on upside 850 needs to be crossed for further up move.

USDINR WEEKLY VIEW

In coming Week, the pair may remain in Range with Negative bias.
27 May :: USDINR is likely to re-test 56 and correct from there. Buy May series 55.50 Put when the pair touched 56

28 May :: The pair is likely to take support near 55.5/55.35. Cover 55.50 May Series PUT Position.

29 May :: May Series Expires. JUNE Series USDINR is likely to Correct from 55.5/55.75

30 May :: The pair is likely to get support near 55.35

31 May :: Below 55.35, the pair may end the Week around 55.20-55 .