Author: Manu
EUR/USD has continued its downward trajectory, trading below 1.0800 and marking fresh lows as bearish momentum holds. The currency pair has lost 3.8% from its September highs, breaching critical support levels and showing signs of further weakness. The pair sits just above 1.0775, teetering on a crucial support level that could signal a more profound shift in its outlook if broken. Technical indicators paint a bearish picture, with momentum oscillators like the stochastic deep in oversold territory and the MACD remaining well below its trigger and zero lines. Should EUR/USD dip beneath 1.0775, further declines towards 1.0665 and potentially 1.0600…
As of October 23, 2024, the gold and silver markets are seeing notable fluctuations in India’s major cities. Gold prices remained stable overall, while silver witnessed a more dynamic shift across key regions like Delhi, Chennai, Mumbai, and Kolkata. Also Read: Cautious Market Outlook for October 23: Nifty 50 Faces Key Resistance, Bank Nifty Remains Under Pressure Gold Rates Across India In Delhi, the price of 24-carat gold is recorded at Rs 79,823 per 10 grams, a marginal increase from the previous day’s rate of Rs 79,583. Over the past week, gold prices in the capital have risen from Rs…
As volatility spikes in the Indian stock market, investors are on the lookout for opportunities in key sectors. While the Sensex and Nifty 50 indices dipped slightly on October 21, several stocks continue to show strength amidst the fluctuations. Also Read: Cautious Market Outlook for October 23: Nifty 50 Faces Key Resistance, Bank Nifty Remains Under Pressure Suven PharmaceuticalsSuven Pharmaceuticals is showing strong bullish momentum after breaking above a key resistance zone between Rs 1,220 and Rs 1,250. The stock closed at Rs 1,276.8 and appears set for further appreciation. With technical indicators like the Relative Strength Index (RSI) and…
The Indian stock market appears set for a cautious start on Monday, October 21, 2024, amid mixed global cues and ongoing concerns over inflation and geopolitical tensions. After a turbulent session on Tuesday, where the domestic indices ended with significant losses, market sentiment remains fragile. Both the Sensex and Nifty 50 witnessed strong sell-offs, with the Sensex plummeting 930.55 points, or 1.15%, to close at 80,220.72, and the Nifty 50 dropping 309 points, or 1.25%, to end the day at 24,472.10. Also Read: Cautious Market Outlook for October 22: Volatility Expected in Nifty and Bank Nifty Gift Nifty and Global…
In the early hours of Monday, market watchers noted a surge in US Treasury yields, marking a significant movement across global financial markets. The US 2-year yield closed at its highest point since mid-August, pushing past the crucial 4% resistance level. Meanwhile, the US 10-year yield topped 4.2%, erasing a major portion of the market downturn experienced in mid-September. The yield surge signals investors may be bracing for volatility ahead of critical events, such as the upcoming US presidential elections and the next Federal Reserve meeting. For weeks, financial markets have closely watched the Fed’s stance, mainly after US economic…
Gold and silver prices saw notable movement as of October 22, 2024, with an increase in both commodities, reflecting ongoing fluctuations driven by global economic conditions and demand. Also Read: Cautious Market Outlook for October 22: Volatility Expected in Nifty and Bank Nifty Gold Prices on the Rise In today’s trading, 24-carat gold stands at Rs 7982.3 per gram, up by Rs 240 from yesterday’s rate. Similarly, 22-carat gold is priced at Rs 7318.3 per gram, marking a Rs 240 increase. Despite this short-term rise, the price of 24-carat gold has seen a 2.55% decline over the past week and…
The Nifty index continues to face a strong resistance zone between 24,900 and 25,000, but certain stocks are showing potential for gains despite this challenging environment. Based on the latest market updates, here are the top stock picks to consider for October 22, 2024. Also Read: Cautious Market Outlook for October 22: Volatility Expected in Nifty and Bank Nifty Gujarat Fluorochemicals (FLUOROCHEM) FLUOROCHEM is currently trading at Rs 4812.65, and all signals point to a bullish trend. The stock has broken out of a consolidation phase and is now heading toward its all-time high. The RSI, at 70.93, shows strong…
Indian stock market indices, Sensex and Nifty 50, are expected to open on a cautious note on Tuesday, reflecting weak sentiment from global markets. Trends in Gift Nifty suggest a muted start for the Indian benchmark index, trading around the 24,810 level—a premium of approximately 20 points compared to Nifty futures’ previous close. Also Read: Gold and Silver Price Analysis for October 21, 2024: Insights from Key Indian Cities Previous Session In the previous trading session, domestic indices experienced a dip as profit booking set in, reversing gains from the prior week. The Sensex closed down by 73.48 points to…
The Forex market began Monday morning with significant fluctuations in key currency pairs as traders anticipated the next big move by the US dollar. The markets have been volatile, particularly around the USD. This has caused traders to closely monitor the USD’s reaction to economic trends. Also Read: Forex Update: EUR/USD, AUD/USD, GBP/USD, and EUR/JPY Analysis EUR/USD: Consolidation Despite Uncertainty The EUR/USD pair began the week by attempting to rise but then reversed direction as the US Dollar gained strength. The euro retreat suEurots a consolidation phase, especially following its recent rapid fall to 1.08. This consolidation is logical as…
On October 21, 2024, gold costs in India declined slightly, with both rates for 24-carat and 22-carat slamming at about Rs10 per kilogram. 24-carat gold is currently Rs 7,958.3 per gram, whereas 22-carat gold is Rs 7,294.3 per gram. Silver prices also fell, dropping by Rs 100 per kilogram to Rs 102,500.0 per kilogram. Here’s a detailed analysis of gold and silver prices in large cities in India. Also Read: Market Outlook and Trade Setup for October 21: Nifty and Bank Nifty Gold Price Movements in Major Cities DelhiIn Delhi, 24-carat gold is currently Rs 79,583.0 for 10 grams. This…