Author: Manu
Indian market indices for stocks, Sensex and Nifty 50, are scheduled for a tepid beginning on Thursday, influenced by various global market developments. It was reported that the GIFT Nifty was trading near the 25,025 mark, suggesting a discount of around 10 % from Nifty Futures’ previous close. This Wednesday, the US equity market experienced its second day of decline in a row. The Sensex fell by 318.76 points and closed at 81,501.36, while the Nifty 50 lost 86.05 points and closed at 24,971.30. The general market sentiment remained prudent, with a tiny negative candle within daily charts. A slight…
EUR/USD Slips Amid Persistent Downward Bias The EUR/USD is still struggling, and the pair is sustaining an upward bias since the decline from 1.1213 has gained momentum. The decline is the third phase of a pattern correction, which began at 1.1274. Market analysts are monitoring the 61.8% retracement level in that 1.0447 up to 1.1213 interval, currently at 1.0740. If the pair crosses that level, it may indicate a further downward trend. On the other hand, If EUR/USD can find a way to move over the minor resistance level of 1.0953, It may be able to help neutralize the intraday…
On October 16, the silver and gold prices displayed divergent trends across the central Indian markets. While gold saw an occasional price dip, silver prices remained relatively steady, with a few minor fluctuations. These shifts reflect a broader global shift in market dynamics, which are influenced mainly by macroeconomic information, central bank activity, and geopolitical developments. Also Read: Market Outlook and Trade Setup for October 16, 2024: Key Indicators and Open Interest Data Gold Prices Witness Minor Decline As of October 16, the price of gold 24-carat in India is currently Rs77,563 for 10 grams, a slight reduction from the…
While the market navigates constant uncertainty, we presents five promising stocks based on recent developments. These stocks are getting attention in light of notable announcements or contracts and potential opportunities that could boost the market shortly. Also Read: Market Outlook and Trade Setup for October 16, 2024: Key Indicators and Open Interest Data These stock picks reflect current trends in the market and have been chosen by SMJ in light of the potential effects of recent contracts and opportunities. SMJ is the sole party responsible for this report’s analysis and views. Also Read: Top Stock Picks for October 15: A…
The Indian stock market is expected to begin on a low note today; on October 16, the trends of international markets affect the domestic market. The Sensex and Nifty 50 are anticipated to see a soft opening after closing lower in the last session. Signs of Gift Nifty, trading near the 25,045 mark with a margin of around 80 points, indicate lower levels for the market in general. Also Read: Gold and Silver Rates on October 15: Minor Decline in Gold Prices, Silver Holds Steady Recap of Previous Session On October 15, the benchmark indexes ended in red, caused by…
EUR/USD Continues to Slide The EUR/USD pair recommenced its slide after briefly settling at 1.1213. The intraday market has shown a strong downward trend and is trading below the crucial 38.2% retracement of 1.0447 to 1.1213, which is 1.0920. This indicates that the drop from 1.1213 could be the third phase of a larger corrective pattern, which began with a high in 2023 of 1.1274. If the trend continues downward, traders are looking for the next target, which could be 1.0740, which is the 61.8% retracement level. On the contrary, a rebound over the resistance minor level of 1.0953 could result in…
On the 15th of October, the gold price saw the slightest dip, extending the current trend of a volatile market for precious metals. The cost of 24-carat gold was Rs7778.3 per gram, which is an increase in the amount of Rs50.0 over the prior day. Similar to that, the price of 22-carat gold experienced decreases, decreasing to Rs50.0 up to Rs7131.3 for a gram. The downward trend is due to an -0.3% change in the price of 24-carat gold in the last week, but a much more significant decrease of -3.12% in the last month. As of today, the price…
Amid growing market volatility, SMJ has identified key stock picks for October 15. These recommendations are based on current technical trends, highlighting stocks that show strong potential for upward momentum. Here’s a closer look at four top selections to keep an eye on today. Also Read: Market Outlook & Trade Setup for October 15: Nifty 50 and Bank Nifty Brace for Flat Start Kalyan Jewellers India (Target Price: Rs 790 | Stop Loss: Rs 729) Kalyan Jewellers is attracting attention with its recent breakout on the daily chart. The stock has sustained above the crucial 21-day Exponential Moving Average (EMA),…
Nifty 50 and Sensex, are poised for a muted opening today, as indicated by the flat trading of Gift Nifty at 25,240, a slight premium over the Nifty futures’ previous close. Despite a potential flat start, the market continues to exhibit resilience, buoyed by strong technical patterns and favorable open interest (OI) data. Also Read: Forex Update: Volatility Continues Across Major Currency Pairs Nifty 50 and Sensex Performance On Monday, both indices rallied, with the Sensex surging by 591.69 points to close at 81,973.05, and the Nifty 50 adding 163.70 points, finishing at 25,127.95. Nifty 50’s performance was marked by…
Because of the ongoing pressure from uncertain global economies on key currency pairings, the forex market has remained extremely volatile. The most recent trading behaviour across a range of currency pairs reveals important domains in which traders are responding to outside influences like choices made by central banks, changes in geopolitics, and variations in the price of commodities. Also Read: Gold and Silver Prices for October 14, 2024: Fluctuations Mark the Start of the Week AUD/USD Over the past week, the Australian dollar has shown very little movement and has struggled to gather pace. In spite of this, market players…