We have seen a mindblowing rally in Gold and Silver from lower levels because of ongoing concern of corona virus. This impact on Chinese as well as the global economy. China is the biggest importer of metal like copper as it consumes almost 40% of global production. The same impact on other metals and tradable items. The yellow metal is the best option to hedge against the currency. Gold Watch 41150 levels carefully...
After huge volatility in the budget session, we were seen trading Nifty in a limited range. In our weekly update, we clearly indicated the resistance level of 12420. It is unable to breach it's resistance and crashed vertically to 11598 levels. Now, what to expect??? Nifty future Nifty future has support at 12080 and resistance at 12240. Break and close below 12080 will take it to...
MONEYCONTROL • Vodafone Idea: The company received letters from DoT directing immediate payment. Currently assessing amount the company will be able to pay DoT towards AGR dues as interpreted by the Supreme Court. The company proposes to pay the amount so assessed in the next few days. • Granules India: USFDA completed inspection of the company's Hyderabad unit with 2 observations. • Bharti Airtel: Bharti Airtel has...
Benchmark indices ended lower for the second consecutive day with a volatile trading session. After Supreme Court refuses any relief to telecom firms on dues and initiated contempt cases against telecom companies. BSE Sensex fell 0.49 percent to close at 41,257.74 and the NSE Nifty fell 0.5 percent to close at 12,113.45. The broader markets represented by the NSE Nifty 500 Index fell 0.57 percent. During Market hour WPI...
Gold inched up on Friday amidst a rise in the number of new coronavirus cases in China dashed hopes the epidemic was slowing and drove investors to safe-haven assets. On the other hand, Crude oil traded higher amid the possibility of deeper supply cuts from major producers. Today, traders should concentrate on the Core Retail Sales m/m along with Import Prices m/m, Industrial Production m/m and Prelim UoM Consumer Sentiment from the...
EURUSD Before stepping on the technicalities of the fall in EURUSD, we would like to stress the fact that Euro Zone is a manufacturing-based and slight change in the factors affecting the manufacturing, can take Euro to places. This Wednesday, EUR Industrial Production m/m came out to be -2.1% against the expected figure of -1.8%, the reason is evident and no stranger to anyone, the outburst of Coronavirus. Euro being...
TAKE Currently, 4% up from previous closing and stock gives a sharp upside breakout on the chart. Grab it above 105 levels, If it breaks and closes above 105 for 3 consecutive days + weekly closing will see upside rally till 108---110 +++ levels in days to come. Support and stop-loss below 99 on a closing basis. CREDITACC Stock is trading in a positive trend and looks positive on the chart. Currently...
Fundamental Aspect: Higher global soybean output estimated in 2019-20 depressed soybean prices on the CBOT. The US Department of Agriculture has scaled up its estimate for global soybean output in 2019-20 to 339.4 mln tn from 337.7 mln tn in January. Snapping a four-day-long losing streak, the most-active March soybean contract on the National Commodity and Derivatives Exchange rose due to improved demand at lower price level, analysts...
Rupee opened on a flat note against the US Dollar in the early morning amid mixed sentiments in the market. On one hand, positivity in the domestic equity market is supporting Rupee while rising prices of Crude is weighing down on it. Foreign Institutional Investors allegedly sold stocks worth of Rs 209.39 crore on Tuesday. The US 10- year bond is trading at 6.48 percent. Technical outlook: (February 2020) Dollar...
MONEYCONTROL • Vodafone Idea: Posts a loss of Rs 6,453.2 crore for the December quarter of FY20 against a loss of Rs 5,004.6 crore posted in the corresponding quarter of the previous financial year. • Avenue Supermarts: Floor price for OFS set at Rs 2,049 per share, promoters to sell up to 1.48 cr shares. • Future Retail: Q3 profit dips 16.7 percent to Rs 165 cr, revenue declines 3.3 percent to Rs 5,193.2 cr YoY....
