GOLD:-   BUY NEAR 28200 WITH THE STOP OF 28100 FOR THE TARGET OF 28400 & 28700.

SILVER:-  BUY NEAR 56700 WITH THE STOP OF 56500  FOR THE TARGET OF 57800-58000 .

CRUDE:-   SELL NEAR 5330 WITH THE STOP OF 5340 FOR THE TARGET OF 5260 -5270 & LOWER.

COPPER:-  BUY AROUND 434.00 WITH THE STOP OF 435.00 FOR THE TARGET OF 428.00-429 & LOWER.

NICKEL:-   BUY AROUND 900.00 WITH THE STOP OF 890.00 FOR THE TARGET OF 910.00-930.00 HIGHER.

ALUMINUM:-  BUY AROUND 109.50 WITH THE STOP OF 109.00 FOR THE TARGET OF 111.00-111.50  & HIGHER.

SPECIAL NOTE:- We would earnestly request the readers to read carefully the qualifying conditions for the call to be activated. Without meeting the qualifier conditions call do not get activated & simply cursory look at chart & arrow may lead to erroneous call activation & financial losses.

Thursday’s winning trades mostly long JPY.  Short AUDJPY (and other JPY crosses) continues to be the winning trade (as was the case over the whole of last week) with markets still fretting about China hard-landing concerns and ahead of Sunday’s March NBS release of the China manufacturing PMI. JPY strength meanwhile is variously attributed to end of fiscal year flows, lower Treasury yields, profit taking by winning longs and a whiff of safe-have haven demand amid weaker equity markets. US data contributed little to the fray on Thursday. Initial unemployment claims came in higher than expected at 359k but this was largely the product of benchmark and seasonal revisions going back to 2007 and which has raised the average level of claims. It has not influenced our forecast for next Friday’s March non-farm payrolls at +200k (market consensus currently +210k). Q4 GDP and the Personal Consumption component of GDP were both left unchanged at 3.0% and 2.1% respectively. Month/quarter/Japan fiscal year end flows remain a major talking point and may be key for Friday’s market’s.

US Personal Income and PCE of particular interest Friday.  Though US bond yields are lower on the week (2s by about 3bps and 10s by 12bps) t still less than might be expected if markets fully believe the FOMC’s commitment to hold rates down at least until late 2014. The data-dependency of Fed thinking therefore remains obvious, and with that the FX market implications. While next Friday’s payrolls report is going to be very big deal in this respect, this Friday’s data is of interest. The February Personal Income and Spending data will be especially significant after the unexpected weakness in January’s PCE number in particular (only +0.2%). A bounce back in PCE is expected (+0.6%) with income seen at +0.4% (BNP is also +0.6% on PCE but sees Income softer at +0.3% partly due to reduced transfer (benefit) payments. Real PCE has been flat for three months, and if we do not see a meaningful real increase in March, this will be a warning sign that not only might recent employment market strength be unsustainable, but also that demand growth itself may be faltering. For the USD, weak number than enhance expectations for additional Fed action and confidence in the late 2014 low rates commitment should hurt the USD, unless the data is so weak as to engender a broader risk-off move. Chicago PMI is also due (small fall expected) and final Michigan CSI.

Spanish budget cuts, Eco Fin meeting main EUR-specific drivers Friday.  In the wake of the somewhat disappointing overall outcome for Spanish PM Rajoy’s conservative party in last weekend’s regional elections and after Thursday’s general strike, the Spanish budget today will vie for attention with the Eco Fin meeting in Denmark. Announced budget cuts will be tested against the Rajoy government declared intent to hit a revised 5.3% budget deficit/GDP target in 2012 (a compromise agreed with the EC after Spain, almost before the ink was dry on the new fiscal stability pact, declared unilaterally that its 2012 deficit was likely to be 5.8% not the 4.4% originally agreed). From the Eco Fin meet, markets have been led to believe this will result in ministers signing off on a plan to combine the unused 240bn lending capacity of the EFSF with the planned 500bn capacity of the ESM. Anything short of this or the lack of unanimity on the proposal could therefore now prove unsettling for all things EUR.

USD-INR APRIL 2012 MCX-SX FUTURE:-  Technically it is attempting the retest of 51.95 top.

SELL AROUND 51.80 WITH THE STOP OF 51.90 OR ON DECISIVE BREACH OF ATP FOR THE TARGET OF 51.50 & LOWER.

EURO-INR APRIL 2012 MCX-SX FUTURE :-  Technically we see 4^th wave terminating around 67.70, as rise in EURUSD will be partly washed out due to INR appreciation.

 SELL AROUND 68.70 WITH THE STOP OF 68.80 OR ON THE BREACH OF 68.20 FOR THE TARGET OF 67.70.

GBPINR APRIL 2012 MCX FUTURE :-   Technically we see GBPINR is headed for the new high above 82.40 and 83.40.

BUY NEAR 81.80 WITH THE STOP OF 81.70 OR ON CROSS ABOVE OF 82.40 FOR THE TARGET OF 83.40.

JPYINR APRIL 2012 MCX FUTURE :-  Technically we see short term top formation & then commence the downward movement.

SELL ABOVE 63.40 WITH THE STOP OF 63.60 FOR THE TARGET OF 62.40 & LOWER.

PIVOTPOINT-TABLE

ECONOMIC CALENDAR

SPECIAL NOTE:- We would earnestly request the readers to read carefully the qualifying conditions for the call to be activated. Without meeting the qualifier conditions call do not get activated & simply cursory look at chart & arrow may lead to erroneous call activation & financial losses.

THIS IS THE PORTRAY OF GENERAL BROADER MARKET VIEW WITHOUT ANY SPECIFIC STRATEGY & SHOULD NOT BE CONSTRUIED AS SPECIFIC CALLS.FOR THE MORE POIGNANT VIEW ON MARKET,WINNING STRATEGY & PIN POINT TIMELY PRICE LEVEL CALLS, CONTACT US  TO SUBSCRIBE FOR OUR PREMIUM SERVICES.      

GOLD:-   SELL NEAR 28400 WITH THE STOP OF 28450 FOR THE TARGET OF 28200 & 28000, LOWER.

SILVER:-  SELL AROUND 58000 WITH THE STOP OF 58300 OR ON THE BREACH OF 57500 FOR THE TARGET OF 57200 & 56500  LOWER.