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Time of India
a day ago
- Business
- Time of India
Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for
Gold traded rangebound on Monday amid a lack of triggers from international markets. The August MCX gold contracts moved within a 650-point range while slipping into the red. The weakness could be attributed to easing US–China trade tensions, while a higher-than-expected U.S. jobs report dampened expectations of interest rate cuts by the Federal Reserve. Lower rates are beneficial for the non-yielding yellow metal. Around 1:30 pm today, the August gold futures were trading at Rs 96,851 on the MCX, down by Rs 185 or 0.19%. Meanwhile, on COMEX, gold contracts were trading at $3,348.80 per troy ounce, up by $2.20 or 0.07%. Tech view Weekly Technical & Fundamental Outlook – MCX Gold (05 Aug 2025 Contract) Week Ending: June 7, 2025 Closing Price: Rs 97,036 Key support & resistance: Gold has turned sideways after a failed breakout attempt above Rs 98,700. The price was rejected near the upper Bollinger Band, forming a near-term double top around Rs 98,800–Rs 98,900. A steady base is forming around Rs 96,300–Rs 96,500, with the support zone at Rs 96,300 and major swing resistance at Rs 98,700. The short-term top is estimated at Rs 1,01,000. Trivedi said that a close below Rs 96,300 may invite selling pressure toward Rs 94,800–Rs 93,500, while a decisive breach above Rs 98,700 could lead to a rally toward Rs 1,01,000. RSI (14): 54.23 A neutral-to-mild bearish bias is seen as the RSI has cooled off from earlier highs and now hovers near the midline at 54, reflecting reduced bullish momentum. It is neither overbought nor oversold, indicating consolidation. Sustained weakness below 50 may confirm downside pressure. Bollinger Bands: Consolidation with resistance at the upper price band. The price was rejected at the upper Bollinger Band. Now, Rs 96,800 could open downside expansion. Moving Averages: Price is struggling around support EMA 8 (Red): Rs 97,300 EMA 21 (Yellow): Rs 96,400 The price has slipped below the EMA 8, indicating short-term weakness, while the EMA 21 continues to provide support. A close below Rs 96,400 would be structurally negative, favoring a bearish trend shift. MACD: Flat momentum with fading bullishness MACD Line: 727.68 Signal Line: 657.42 → Still bullish Histogram: 70.25 → Slightly weakening While the MACD remains positive, the histogram reflects declining bullish momentum. A bearish crossover is not confirmed yet but could occur if selling pressure continues. Trading strategy: Sell on rise with tight stop loss Gold is currently in a wait-and-watch zone with a mild bearish tilt. As long as Rs 98,700 is not breached on a closing basis, rallies are expected to face selling pressure. A break below Rs 96,400 could accelerate the downside toward Rs 94,800. Sell on rise: Rs 97,600–Rs 98,000 Stop Loss: Rs 98,700 (on closing basis) Targets: Rs 96,300 → Rs 94,800 While gold is expected to remain rangebound in the near term, its direction will depend on tariff negotiations between the US, China , and other key global players. On the domestic front, investors should monitor rupee movement—as a weaker INR against the USD will support domestic gold prices.
Economic Times
a day ago
- Business
- Economic Times
Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for
Gold traded rangebound on Monday amid a lack of triggers from international markets. The August MCX gold contracts moved within a 650-point range while slipping into the red. ADVERTISEMENT The weakness could be attributed to easing US–China trade tensions, while a higher-than-expected U.S. jobs report dampened expectations of interest rate cuts by the Federal Reserve. Lower rates are beneficial for the non-yielding yellow metal. Around 1:30 pm today, the August gold futures were trading at Rs 96,851 on the MCX, down by Rs 185 or 0.19%. Meanwhile, on COMEX, gold contracts were trading at $3,348.80 per troy ounce, up by $2.20 or 0.07%. Tech view Weekly Technical & Fundamental Outlook – MCX Gold (05 Aug 2025 Contract)Week Ending: June 7, 2025 ADVERTISEMENT Closing Price: Rs 97,036Key support & resistance: Gold has turned sideways after a failed breakout attempt above Rs 98,700. The price was rejected near the upper Bollinger Band, forming a near-term double top around Rs 98,800–Rs 98,900. ADVERTISEMENT A steady base is forming around Rs 96,300–Rs 96,500, with the support zone at Rs 96,300 and major swing resistance at Rs 98,700. The short-term top is estimated at Rs 1,01, said that a close below Rs 96,300 may invite selling pressure toward Rs 94,800–Rs 93,500, while a decisive breach above Rs 98,700 could lead to a rally toward Rs 1,01,000. ADVERTISEMENT RSI (14): 54.23 A neutral-to-mild bearish bias is seen as the RSI has cooled off from earlier highs and now hovers near the midline at 54, reflecting reduced bullish momentum. It is neither overbought nor oversold, indicating consolidation. Sustained weakness below 50 may confirm downside pressure. Bollinger Bands: Consolidation with resistance at the upper price band. The price was rejected at the upper Bollinger Band. Now, Rs 96,800 could open downside expansion. Moving Averages: Price is struggling around support ADVERTISEMENT EMA 8 (Red): Rs 97,300 EMA 21 (Yellow): Rs 96,400 The price has slipped below the EMA 8, indicating short-term weakness, while the EMA 21 continues to provide support. A close below Rs 96,400 would be structurally negative, favoring a bearish trend shift. MACD: Flat momentum with fading bullishness MACD Line: 727.68 Signal Line: 657.42 → Still bullish Histogram: 70.25 → Slightly weakening While the MACD remains positive, the histogram reflects declining bullish momentum. A bearish crossover is not confirmed yet but could occur if selling pressure continues. Trading strategy: Sell on rise with tight stop loss Gold is currently in a wait-and-watch zone with a mild bearish tilt. As long as Rs 98,700 is not breached on a closing basis, rallies are expected to face selling pressure. A break below Rs 96,400 could accelerate the downside toward Rs 94,800. Sell on rise: Rs 97,600–Rs 98,000Stop Loss: Rs 98,700 (on closing basis) Targets: Rs 96,300 → Rs 94,800 While gold is expected to remain rangebound in the near term, its direction will depend on tariff negotiations between the US, China, and other key global players. On the domestic front, investors should monitor rupee movement—as a weaker INR against the USD will support domestic gold prices. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
4 days ago
- Business
- Business Standard
RBI cuts repo, CRR: 5 rate sensitive stocks to buy with up to 26% upside
The Reserve Bank of India (RBI) appointed Monetary Policy Committee (MPC) on Friday, announced a larger than expected 50 basis points repo rate cut, following its 3-day policy meet from June 4 - June 6, 2025. Further, RBI Governor Sanjay Malhotra also announced a liberal 100 basis points (bps) cut in the required cash reserve ratio (CRR) by banks to 3 per cent from 4 per cent presently. Lower interest rates tend to benefit rural and urban spending, and also spur credit growth due to decreased cost for borrowing. Post the policy announcement, rate sensitive stocks across sectors - auto, banks and real-estate rallied smartly on the BSE and the NSE. Given this background, here are 5 rate sensitive stocks that can potentially rally up to 26 per cent from present levels based on the existing technical chart patterns. HDFC Bank Current Price: ₹1,970 Upside Potential: 6.6% Support: ₹1,960; ₹1,934; ₹1,855 Resistance: ₹2,009; ₹2,036 HDFC Bank stock has bounced back above the higher-end of the Bollinger Band in intra-day trades on Friday. The near-term bias for the stock is likely to remain upbeat as long as the stock holds above ₹1,960 levels; below which key support for the stock stands at ₹1,934 and ₹1,855 levels. CLICK HERE FOR THE CHART On the upside, the HDFC Bank stock needs to break and trade consistently above ₹2,010 levels, for a likely rally towards ₹2,100 levels, with interim resistance around ₹2,036. ALSO READ | Adani Enterprises, Green, Power: Which Adani group stock is worth investing in? L&T Finance Current Price: ₹187 Upside Potential: 15.5% Support: ₹182; ₹175 Resistance: ₹194; ₹207 L&T Finance recently gave a breakout on the daily scale. The near-term bias for the stock is expected to remain bullish as long as the stock trades above ₹182; below which major support for the stock stands at ₹175. On the upside, the stock can rally to ₹194 in the near-term; above which a surge towards ₹207 and ₹216 levels cannot be ruled out. CLICK HERE FOR THE CHART Bajaj Auto Current Price: ₹8,628 Upside Potential: 26.3% Support: ₹8,585; 8,250 Resistance: ₹9,250 Bajaj Auto stock has found support around its 20-Day Moving Average (20-DMA) for the last five straight trading sessions. The 20-DMA support stands at ₹8,585; below which the key support stands at ₹8,250. On the upside, the stock can pull-back towards its 200-DMA, which coincides with the 50-Week Moving Average at ₹9,250 levels. Beyond which, the stock can potentially surge towards ₹10,900 levels. CLICK HERE FOR THE CHART Eicher Motors Current Price: ₹5,360 Upside Potential: 8.2% Support: ₹5,250 Resistance: ₹5,440; ₹5,557; ₹5,750 In recent days, Eicher Motors stock was seen seeking support around its 100-Day Moving Average (100-DMA), which stands at ₹5,250. As long as the stock manages to hold above the same, it can attempt a pullback rally towards ₹5,800 levels; with interim resistance likely around ₹5,440, ₹5,557 and ₹5,750 levels. CLICK HERE FOR THE CHART Prestige Estates Current Price: ₹1,669 Upside Potential: 16.8% Support: ₹1,640; ₹1,522 Resistance: ₹1,700; ₹1,755; ₹1,840 Prestige Estates is likely to trade on an upbeat note as long as the stock holds above ₹1,640 levels. That apart, the stock had recently crossed its 200-DMA, which stands at ₹1,522 and is likely to act as a key support going ahead. On the upside, the stock can potentially surge towards ₹1,950 levels, with intermediate resistance likely around ₹1,700, ₹1,755 and ₹1,840 levels.
Time of India
4 days ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for June 6, 2025
Gold price prediction today: Gold prices have been rising, but are also below their record low. Gold rate rise is showing signs of exhaustion. Where are MCX Gold prices headed and what should investors do? Should they buy or sell gold? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold Market Overview MCX Gold June 2025 contract is expected to open slightly higher around ₹98200 levels on Friday, following mixed global cues. Tired of too many ads? go ad free now However, the 30-minute chart reveals critical resistance zones that suggest any upward move should be viewed as a selling opportunity. The precious metal's recent price action indicates exhaustion at higher levels, creating an ideal setup for contrarian traders. Technical Analysis: 30-Minute Timeframe Current Market Structure: Gold has been trading in a volatile range with clear signs of distribution near the ₹99000 psychological level. The recent sharp decline from highs of ₹99300 followed by a recovery attempt suggests a classic bear flag formation. Key Technical Parameters: Expected Opening: ₹98200 (marginally higher) EMA 21: ₹98300 (acting as immediate resistance) EMA 8: ₹97980 (short-term support) RSI (14): Currently at 38.63 (oversold bounce territory) MACD: Showing bearish momentum with histogram in negative territory Bollinger Bands: Price testing middle band with upper band acting as strong resistance Primary Strategy: Sell on Rise Near ₹98500 Strategic Foundation: The ₹98500 level represents a confluence of multiple resistance factors that make it an optimal selling zone: 1. Fibonacci Retracement: 38.2% retracement of the recent decline from ₹99300 to ₹97500 2. Previous Support Turned Resistance: Earlier support level now acting as resistance 3. Bollinger Band Resistance: Approaching the upper band of the current range 4. Volume Profile: Low volume acceptance above ₹98400 levels 5. Psychological Resistance: Round number significance Entry Parameters: Primary Sell Zone: ₹98450-98550 Optimal Entry: ₹98500 Stop Loss: ₹98750 (above recent swing high) Target 1: ₹98000 (immediate support) Target 2: ₹97750 (next significant support) Intraday Execution: Allow initial volatility to settle Watch for any upward movement toward resistance zone Prepare for entry as price approaches ₹98450 Market Sentiment Factors Supporting Bearish View: Technical Breakdown: Clear break below previous support levels Volume Pattern: Higher volume on declines compared to advances Global Headwinds: Strength in Dollar Index pressuring gold Risk Factors: Geopolitical Tensions: Unexpected safe-haven demand Dollar Weakness: Any sudden USD decline Economic Data: Weak US economic indicators Alternative Scenarios Bull Case (Low Probability): If gold sustains above ₹98750 with strong volume, it could target: ₹99000 (psychological resistance) ₹99300 (previous high) Trading Psychology The expected higher opening might create false optimism among retail traders. Professional traders should use this sentiment against the crowd by selling into strength. The key is patience – wait for the right technical setup at the resistance zone. Conclusion The technical setup presents a high-probability selling opportunity near ₹98500. The confluence of resistance factors, combined with bearish momentum indicators, supports the sell-on-rise strategy. However, traders must remain disciplined and execute the plan systematically while maintaining strict risk management protocols. (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Mint
30-05-2025
- Business
- Mint
Stock to buy for short-term: This multibagger small-cap stock is Axis Securities' momentum pick. Do you own?
Stock to buy for short-term: Strides Pharma Science share price was volatile on Friday amid weakness in the broader Indian stock market. Strides Pharma Science shares opened higher and gained as much as 1.49% to reach an intraday high of ₹ 793.50 apiece on the BSE. The smallcap stock, however, succumbed to selling pressure and was trading lower, hitting an intraday low of ₹ 773.00 apiece, falling 1.12%. Brokerage firm Axis Securities has picked Strides Pharma Science shares as its momentum stock pick as it believes the small-cap has the potential to see an upside of over 18% in the short-term. Axis Securities recommends a 'Buy' call on Strides Pharma Science shares, with a target price of ₹ 887-925, representing an upside potential of 18% from previous closing price. The buying range for Strides Pharma Science stock is ₹ 760-745. It maintains 'Buy' with a trend reversal level at ₹ 685. 'Strides Pharma Science share price has delivered a decisive breakout above the falling channel at ₹ 750 on the weekly chart, marked by a strong bullish candle and a surge in volumes, underscoring robust market participation and confirming the start of a medium-term uptrend,' Axis Securities said in a note. Additionally, Strides Pharma Science stock price has crossed above the weekly upper Bollinger Band, generating a technical buy signal and adding further conviction to the breakout, it added. The weekly RSI is trending higher, holding above its 50 mark and reference line, signalling strengthening momentum. A breakout above the RSI's downward-sloping trendline further reinforces the bullish setup, according to the brokerage firm. With this setup, it believes Strides Pharma Science shares appear well-poised to extend its upward move, with near-term upside targets at ₹ 887 and 925. The timeframe for the trade is 3-4 weeks. Strides Pharma Science share price has rallied 19% in one month and 25% in three months. The small-cap stock is up 10% YTD and jumped 94% in the past one year. Strides Pharma Science shares have delivered multibagger returns of 354% in two years and 310% in five years. At 10:45 AM, Strides Pharma Science share price was trading 0.36% lower at ₹ 779.00 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
