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The Indian stock market has corrected enough over the past few weeks and the thesis remains that local equities are in a sustainable long-term run, as compared to countries like China where shares have seen a 'poor quality' rally, said Samir Arora of Singapore-based Helios Capital. Arora has upped the net exposure of his long-short hedge fund by 5-7 percent...

Crude Oil prices are Increased tension in the Middle East On Wednesday, crude oil prices are the main reasons of speeding a Middle East tension as well. In fact continues in Yemen ladai. Led by Saudi Arabia in Yemen run military campaign in the southern city of Aden attacks on insurgents have bases. On the other hand this night rebels killed seven people in the news. Follow us @ http://commodity-intraday.blogspot.in/2015/04/ncdex-tips-and-live-updatescrude.html

Positive side from data though, Unemployment rate increased and also labour force participation inched tad higher. That is the reason which kept Gold and Silver in a band for the day and whole of last week with mercurial movement seen higher within that band. Today morning, we are seeing Gold largely flat to negative as Asian equities move higher tracking US and also backed by another Chinese rate cut. With markets not having any major data today, likely that movement in Bullion would be restricted. While bias stays on negative side, we advice traders taking momentary shorts in Gold for small TGT's.

Taking cues from overseas markets, gold futures prices today fell 0.22 percent to Rs 27,120 per 10 grammes as speculators offloaded their positions. At the Multi Commodity Exchange, gold prices for delivery in far-month August shed Rs 59, or 0.22 percent , to Rs 27,120 per 10 gm in business turnover of seven lots. Also, metal prices for delivery in June declined by Rs 54, or 0.20 percent , to Rs 26,880 per ten gm in 292 lots. Analysts said the fall in gold futures was attributed to trimming of positions by speculators, tracking with trend overseas after data on US jobless claims showed an improving labour market ahead of the release of non-farm payroll figures for April, boosting speculation that interest rates will rise this year.

Copper prices have retraced from its early morning highs at 387 levels. Major support for the counter is seen around 382 levels and prices will find buying on corrective moves until this support is not broken decisively. A close below 382 will see prices move lower towards 378/376.50 areas again. Traders holding long positions should maintain the same with a stop loss placed below 382 levels.