The chart pattern suggests that if Nifty crosses and sustains above 17800 level it would witness buying which would lead the index towards 18000-18300 levels. However, if index breaks below 17500 level it would witness selling which would take the index towards 17200-17000.
Stock Recommendations: Tata Elxsi, Ultratech Cement, Polycab India, HDFC Life
Stock Recommendations: Tata Elxsi, Ultratech Cement, Jyothy Labs, Polycab India, PVR, HDFC Life
- Tata Elxsi raised to ‘buy’ on Weakness at Dalal & Broacha
- UltraTech Cement cut to ‘neutral’ at Choice Equity
- Jyothy Labs raised to ‘buy’ at Elara Secs India; price target set at Rs 185
- Polycab India cut to ‘reduce’ at Spark Capital Advisors
- PVR raised to ‘add’ at Spark Capital Advisors; price target set at Rs 1,850.
- HDFC Life raised to ‘buy’ at Elara Secs India; price target set at Rs 880.
Source: Bloomberg
Sensex, Nifty Off Day’s Low; Jyothy Labs Q3 Net Income Meets Estimate
India’s stock benchmarks recovered from day’s low, but still traded with losses, dragged by losses in information technology, banks, consumer durables, metals and healthcare stocks. The S&P BSE Sensex and NSE Nifty 50 look on course to log the worst week in nearly two months.
RBI Announces A Second Variable Rate Repo Auction
- Variable rate repo auction of Rs 75,000 crore scheduled for Monday.
- RBI had scheduled a Rs 50,000 crore variable rate repo auction for Friday.
- Alert: Repo auctions follow an increase in call money market rate to above 4%.
- Alert: Repo auctions despite surplus liquidity conditions, even though size of surplus has reduced.
Source: RBI
Gold price rises as investors flock to safe-haven metals, but the window for up-move may close soon
Gold price crossed its resistance of $1840 and Rs 48000 in MCX as investors are flocking to safe-haven metals amid inflation and geopolitical tensions. US labour market is also losing momentum as US weekly jobless claims jumped to 55K. The momentum is expected to continue till the start of the next week after which focus will shift to US FOMC meet.
37,200 is an Important support for today in Bank nifty
Nifty heading up or down?
“We are within touching distance of the 17600 mark that has been on discussion for that last fortnight. While the morning star pattern formed by hourly candles towards yesterday’s close, gives hopes of a bounce-back aiming 17950 and beyond, the inability to float above 17680 could cause some turbulence and thwart the potential for an outright rise.
Gold Prices Set for Second Weekly Advance as Inflation, Yields in Focus
Gold prices headed for a second straight weekly gain as investors sought an inflation hedge amid a retreat in U.S. bond yields and equities.