Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs.
Infosys, TCS End Year With Record Hiring And Record Attrition
India’s top two software services companies each added more employees on a net basis in the January to March quarter than they often have in past full years. Ironically, the employee churn numbers are also at their highest ever.
Nifty Could Remain in the 17405-17855 Zone in The Near Term
Nifty Trading Zone: “Nifty after falling gap down has formed a hammer like pattern after a fall, suggesting possibility of an upward reversal. Advance decline ratio fell to much below 1:1 suggesting broad based profit taking in the markets. Nifty could remain in the 17405-17855 zone in the near term,”.
Will Gold Be Able to Move Upwards?
Gold prices have continued to rise at the start of the week after hovering in the $1945 area as covid cases continue to increase in the Shanghai region despite the lockdown announced by the Chinese government.
Stock Recommendations: Reiterates ‘buy’ and target price to Rs 4,240
TCS Well Placed To Leverage Sector Growth, But Margins May Remain Under Pressure.
Gold Consumption Highest Among Indian Middle-Income Group
Weddings were the primary reason for buying gold, with 43 per cent of the Indian households surveyed buying the yellow metal for this purpose.