Oil extended declines — after four weeks of losses — on signs the U.S., China and Japan are all preparing to tap national crude reserves as concerns over accelerating inflation intensify.
Reliance Industries – Aramco Deal off After Agreeing To Re-evaluate
Shares of Reliance Industries Ltd. shed over 4% in intraday trade to Rs 2,370 apiece, after the company and Saudi Aramco have agreed to re-evaluate the latter’s proposed investment in RIL’s oil-to-chemicals business. Reliance will withdraw its application with NCLT for segregating the O2C business. The decision to re-evaluate the proposed investment follows RIL’s recently announced plans to develop green energy giga complex at Jamnagar.
Nifty 50 Technical Weekly Repot – 21-11-2021 — Neal Bhai
Nifty 50 Technical Weekly Repot: The last week was a bit of a write-off for the bulls. In a slightly truncated week, the prices declined for all four sessions and the Nifty 50 ended down, threatening the swing low made back at the end of October.
Gold bulls Remain As Long Key Above $1,850 Support Holds
Gold Bulls Remain: Having failed several attempts to resist above the $1,870 threshold, gold price continues to hover in a familiar range above the critical $1,845 support.
Base Metals: Copper prices Skids to lowest in a month as investors reduce risk
Base Metals: Copper prices have dropped 0.35% this week however they will now be at 4 pyo per pound. Gold and silver had also risen from covid-lows to $9,700 metric tonne in New York. The bellwether has been fuelled by a widely-held belief that demand for it should be heavily supported by the economic post-pandemic boom but also by the worldwide push to decarbonise.
Free MCX Copper Tips: Below 721 Sell 100-500 Lots Target – Neal Bhai
Free MCX Copper Tips: Copper yesterday settled down by 1.98% at 718.65 as expectations of U.S. interestrate rises lifted the dollar to 16-month highs.
