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India Today
16 hours ago
- Business
- India Today
Sensex ends 261 points higher; Nifty above 24,600; Eternal gains over 3%
Benchmark stock market indices closed higher on Wednesday, ending their recent slump as trade talks between the US-China and rate-cut expectations from RBI induced positive market S&P BSE Sensex added 261 points to end at 80,998.25, while the NSE Nifty50 was up by 77.70 points to close at 24, De, Senior Technical Analyst at LKP Securities, said that the Nifty continues to exhibit a lacklustre sentiment as traders await the RBI rate decision and that the market is likely to remain sideways for another session until the announcement and follow-up commentary on "A bearish crossover in the momentum oscillator RSI signals weakening price momentum, suggesting limited movement in the near term. Immediate support is placed at 24,500; a break below this level could lead to further weakness. On the higher side, resistance is seen at 21,750/21,900," he was the top performer, surging 3.32%, followed by Bharti Airtel which climbed 1.82%. IndusInd Bank also gained 1.79%, while Tech Mahindra rose 1.25%. Reliance Industries rounded out the top five gainers with an increase of 1.23%.Bajaj Finserv plummeted 1.56%. Axis Bank also faced heavy selling, retreating 0.90%, while Tata Consultancy Services fell 0.72%. Titan Company Limited declined 0.60%, and Larsen & Toubro completed the list of worst performers with a loss of 0.58%.
Economic Times
2 days ago
- Business
- Economic Times
Commodity Radar: Gold jumps Rs 1,700 on MCX amid Trump's fresh tariff threats. 5 technical signals to watch
Tired of too many ads? Remove Ads Tech view Tired of too many ads? Remove Ads 5 technical insights before making a trade: 1) Key levels 2) RSI (14): 57.49 – Bullish tilt with room to expand 3) Bollinger Bands: Expanding, suggesting volatility resumption 4) Moving Averages – EMA 8 & EMA 21 suggest bullish cross confirmed EMA 8 (Yellow): Rs 96,640 EMA 21 (Red): Rs 96,000 Tired of too many ads? Remove Ads Fundamentals Gold strategy: Buy-on-Dips Gold prices surged 2% or by Rs 1,740 on Monday following Donald Trump administration's threat of doubling steel import levies to 50%. The domestic prices took cues from the international prices which were up by $66 per troy ounce and trading around $3, 7 pm, the MCX June gold futures were trading at Rs 97,473, up by Rs 1,598 or 1.67% from the last closing price of Rs 95, gold prices were up, gaining from a slip in the dollar index (DXY) which was hovering around 99 against a basket of six top currencies. It was down by 0.43 points or 0.43% at 98.90. It has declined by 0.21% over the past five trading sessions.'Gold reacted positively as market priced in the re-rising geopolitical risk between Russia and Ukraine, following intensified cross-border retaliations,' Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said."Gold August futures rebounded strongly from the Rs 96,100 zone and closed the week at Rs 97,196, showing bullish intent. Price is attempting a breakout from the recent consolidation range and now trades well above both short-term and medium-term averages," Trivedi near-term support and last week's low is at 96,000 while a major swing support and psychological base is seen at Rs 94,000. Rs 92,200 is the trend-defining base and a breakdown below this invalidates bearish structure, Trivedi said. He sees immediate resistance at Rs 97,500 which was last week's high while the intermediate resistance lies near the upper bollinger band of Rs 98,400."The bias remains positive as long as Rs 96,000 holds and a close above Rs 97,500 could push prices quickly toward Rs 98,400–Rs 99, RSI has rebounded from the 50-support level and currently rests near 59, suggesting a mild bullish bias. While the oscillator is not in overbought territory, it reflects a recovering trend. A break above Rs 96,700 could fuel further momentum toward overbought zones. On the contrary, a fall below Rs 95,200 may see the RSI dropping back toward neutral RSI has rebounded from previous lows and now stands at 57.5, pointing toward a rising bullish momentum. It is not yet in overbought territory, indicating that there's still room for upside. A sustained move above 60 will reinforce bullish bands are starting to widen, suggesting that volatility may be returning after a contractionphase in mid-May. The price is now hugging the upper band, hinting at buying pressurebuilding. If price sustains above the mid-band (96,100), the upside band at Rs 98,400 becomes the next is well above both the 8-day and 21-day EMAs, with the fast EMA (8) above the slow EMA (21), confirming a bullish crossover. These moving averages will act as dynamic support zones in case of a dip. Bulls remain in control as long as price holds above Rs 96,000.A bullish crossover has just occurred, and the histogram has turned positive after weeks of decline. This strongly supports a fresh upward momentum and aligns with bullish continuation if price holds above Rs 96, the fundamentals, the Russia-Ukraine War Escalation lends support to the yellow metal the uncertainty around tariffs remains which is expected to raise the haven appeal of gold.'Fed remains cautious on rate cuts, given ongoing uncertainty around global tariffs and internal US political instability. This contrast is supportive of gold as a hedge, though any Fed hawkishness may cap aggressive upside,' this analyst from the US will be a key indicator and this week remains macro-heavy, with multiple releases that could determine gold's next Chair Jerome Powell's speech with dovish tilt could fuel a rally, the LKP Securities analyst said, adding that stronger job data could cap upside due to fears of persistent Fed tightening. A weaker data could become a trigger for Rs 98,400 Indian rupee is expected to rise marginally on growing expectations of an RBI rate cut on June 6, which will be non supportive for MCX Gold. INR appreciation tends to decrease MCX gold prices even when COMEX gold is range-bound, Trivedi technical structure, combined with a favorable geopolitical and domestic currency environment, continues to favor a buy-on-dips strategy. As long as gold stays above Rs 96,000, bulls have the upper near Rs 96,400–96,600 zone for a target of Rs 97,500/Rs 98,400/ Rs 99,300 and a stop loss of Rs 94,000 on closing basis.A decisive move above Rs 97,500 with volume could trigger a bullish breakout toward Rs 99,300 in the coming week(s). Macro data and Powell's tone will act as key short-term catalysts.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
3 days ago
- Business
- Time of India
Commodity Radar: Gold jumps Rs 1,700 on MCX amid Trump's fresh tariff threats. 5 technical signals to watch
Gold prices surged 2% or by Rs 1,740 on Monday following Donald Trump administration's threat of doubling steel import levies to 50%. The domestic prices took cues from the international prices which were up by $66 per troy ounce and trading around $3,355. Around 7 pm, the MCX June gold futures were trading at Rs 97,473, up by Rs 1,598 or 1.67% from the last closing price of Rs 95,875. The gold prices were up, gaining from a slip in the dollar index (DXY) which was hovering around 99 against a basket of six top currencies. It was down by 0.43 points or 0.43% at 98.90. It has declined by 0.21% over the past five trading sessions. 'Gold reacted positively as market priced in the re-rising geopolitical risk between Russia and Ukraine, following intensified cross-border retaliations,' Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said. Tech view "Gold August futures rebounded strongly from the Rs 96,100 zone and closed the week at Rs 97,196, showing bullish intent. Price is attempting a breakout from the recent consolidation range and now trades well above both short-term and medium-term averages," Trivedi said. 5 technical insights before making a trade: 1) Key levels The near-term support and last week's low is at 96,000 while a major swing support and psychological base is seen at Rs 94,000. Rs 92,200 is the trend-defining base and a breakdown below this invalidates bearish structure, Trivedi said. He sees immediate resistance at Rs 97,500 which was last week's high while the intermediate resistance lies near the upper bollinger band of Rs 98,400. "The bias remains positive as long as Rs 96,000 holds and a close above Rs 97,500 could push prices quickly toward Rs 98,400–Rs 99,300. 2) RSI (14): 57.49 – Bullish tilt with room to expand The RSI has rebounded from the 50-support level and currently rests near 59, suggesting a mild bullish bias. While the oscillator is not in overbought territory, it reflects a recovering trend. A break above Rs 96,700 could fuel further momentum toward overbought zones. On the contrary, a fall below Rs 95,200 may see the RSI dropping back toward neutral levels. The RSI has rebounded from previous lows and now stands at 57.5, pointing toward a rising bullish momentum. It is not yet in overbought territory, indicating that there's still room for upside. A sustained move above 60 will reinforce bullish continuation. 3) Bollinger Bands: Expanding, suggesting volatility resumption The bands are starting to widen, suggesting that volatility may be returning after a contraction phase in mid-May. The price is now hugging the upper band, hinting at buying pressure building. If price sustains above the mid-band (96,100), the upside band at Rs 98,400 becomes the next test. 4) Moving Averages – EMA 8 & EMA 21 suggest bullish cross confirmed EMA 8 (Yellow): Rs 96,640 EMA 21 (Red): Rs 96,000 Price is well above both the 8-day and 21-day EMAs, with the fast EMA (8) above the slow EMA (21), confirming a bullish crossover. These moving averages will act as dynamic support zones in case of a dip. Bulls remain in control as long as price holds above Rs 96,000. 5) MACD: A bullish crossover has just occurred, and the histogram has turned positive after weeks of decline. This strongly supports a fresh upward momentum and aligns with bullish continuation if price holds above Rs 96,000. Fundamentals On the fundamentals, the Russia-Ukraine War Escalation lends support to the yellow metal prices. Moreover, the uncertainty around tariffs remains which is expected to raise the haven appeal of gold. 'Fed remains cautious on rate cuts, given ongoing uncertainty around global tariffs and internal US political instability. This contrast is supportive of gold as a hedge, though any Fed hawkishness may cap aggressive upside,' this analyst said. Data from the US will be a key indicator and this week remains macro-heavy, with multiple releases that could determine gold's next move. Fed Chair Jerome Powell's speech with dovish tilt could fuel a rally, the LKP Securities analyst said, adding that stronger job data could cap upside due to fears of persistent Fed tightening. A weaker data could become a trigger for Rs 98,400 breakout. The Indian rupee is expected to rise marginally on growing expectations of an RBI rate cut on June 6, which will be non supportive for MCX Gold. INR appreciation tends to decrease MCX gold prices even when COMEX gold is range-bound, Trivedi said. Gold strategy: Buy-on-Dips The technical structure, combined with a favorable geopolitical and domestic currency environment, continues to favor a buy-on-dips strategy. As long as gold stays above Rs 96,000, bulls have the upper hand. Buy near Rs 96,400–96,600 zone for a target of Rs 97,500/Rs 98,400/ Rs 99,300 and a stop loss of Rs 94,000 on closing basis. A decisive move above Rs 97,500 with volume could trigger a bullish breakout toward Rs 99,300 in the coming week(s). Macro data and Powell's tone will act as key short-term catalysts.
Mint
3 days ago
- Business
- Mint
F&O Strategy: Bank of Maharashtra to REC— Rupak De suggests buy or sell strategy for THESE stocks
Stock market today: The Indian stock markets began the new week on a negative trend, impacted by global uncertainties despite robust domestic GDP numbers. The benchmark indices fell during the initial trading session on Monday, with investor confidence shaken by renewed tariff threats from U.S. President Donald Trump. The Nifty 50 index commenced at 24,669.70, reflecting a drop of 81.00 points or 0.33%. Likewise, the Sensex also started off lower at 81,214.42, decreasing by 236.59 points or 0.29%. The indices continued to decline during early trading. Rupak De, Senior Technical Analyst, LKP Securities said that Nifty 50 seems to be stuck in a range, unable to break past a key level. On the downside, immediate support lies at 24,700. De recommends three stocks to buy or sell in the F&O segment. The Nifty 50 kicked off the June series on a shaky note, staying volatile with a slight negative bias throughout the day. On the shorter time frame, a bearish moving average crossover has emerged, adding to the cautious mood. The hourly RSI is also pointing to weakening momentum, hinting at some short-term pressure on the index. On the daily chart, the RSI shows signs of fatigue, along with a strong negative divergence — not the most encouraging signal for the bulls. That said, Nifty 50 seems to be stuck in a range, unable to break past a key level. On the downside, immediate support lies at 24,700. If that gives way, we could see the index slide further toward 24,500. On the flip side, 24,800 is shaping up to be a tough hurdle, especially with call writers piling on heavy positions around that mark. Open Interest Analysis: Significant open interest additions were seen in Calls at 24,800 strike and in Puts of 24,400 strike. Maximum Call and Put writing seen at 24,800 strike. Strategy: Weakness might increase if Nifty falls below 24700. Trade: Buy Nifty 5May 24600PE ABOVE 140 TGT 200 SL 110. Bank of Maharashtra share price has registered a consolidation breakout on the weekly chart, indicating a notable increase in buying interest. The stock trend appears bullish, with price action sustaining above the 21-week exponential moving average (EMA). Furthermore, the Relative Strength Index (RSI) on the weekly chart has shown a bullish crossover, supporting the positive momentum. In the short term, the stock is expected to maintain strength with an upside potential toward ₹ 62. Key support is placed at ₹ 51; a breach below this level may lead to a loss of momentum. Pidilite Industries share price has broken out of a consolidation phase on the daily chart, reflecting a surge in buying interest. The price remains well-supported above the 50-day EMA, maintaining a positive bias. The daily RSI has also formed a bullish crossover, adding to the strength of the technical setup. In the near term, the stock is likely to remain firm, with potential to move toward ₹ 3,300. Immediate support lies at ₹ 3,030; a breakdown below this level may weaken the momentum. REC share price has shown signs of weakness after failing to surpass a key moving average resistance. The RSI has entered a bearish crossover, indicating a deteriorating trend. Additionally, the stock has broken below a recent consolidation range on the hourly chart, further confirming the bearish outlook. In the near term, the stock is expected to face continued selling pressure, with downside potential toward ₹ 385. Resistance is now placed at ₹ 412. 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.
Time of India
6 days ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for May 30, 2025 - should you buy or sell?
Gold price prediction: The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. (AI image) Gold price prediction today: Gold rate remains below its record peak, leaving investors uncertain about their trading decisions regarding the precious metal. Which price points should investors monitor? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: MCX Gold June 2025 contract is expected to open with a significant gap down following weakness in COMEX gold overnight. The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. This presents a strategic opportunity for intraday traders to capitalize on any pullback rallies. Current Technical Setup Previous Close: ₹96500 Expected Opening Range: ₹96100-96200 (gap down of 300-400 points) Key Technical Levels: EMA 8: ₹96350 (now acting as immediate resistance) EMA 21: ₹96100 (potential support turned resistance) RSI: Expected to open below 40 (oversold bounce likely) MACD: Bearish crossover confirmed with negative histogram Bollinger Bands: Price likely to test middle band support Sell-on-Rise Strategy: 96350-96400 Zone Strategic Rationale: The 96350-96400 zone represents a confluence of critical resistance factors: 1. EMA 8 Resistance: The 8-day moving average at 96350 will act as dynamic resistance 2. Gap Fill Resistance: Markets often struggle to fill gaps completely on first attempt 3. Previous Support Turned Resistance: Yesterday's support levels become today's resistance 4. Psychological Level: Round number resistance at 96400 Entry Parameters: Primary Sell Zone: ₹96350-96400 Ideal Entry: ₹96375 (middle of the resistance zone) Stop Loss: ₹96550 (above previous day's high) Target 1: ₹96000 (psychological support) Target 2: ₹95800 (next significant support) Target 3: ₹95550 (extended target for swing traders) Execution Strategy: 1. Wait for Gap Opening: Allow the market to digest the gap down 2. Monitor Recovery Attempt: Look for pullback rally toward resistance zone 3. Entry Confirmation: Bearish reversal candlestick pattern (shooting star, doji, bearish engulfing) RSI showing negative divergence near 50-55 levels Volume declining on the recovery attempt 4. Risk Management: Trail stop loss to breakeven once Target 1 is achieved Market Sentiment Analysis The overnight weakness in COMEX gold reflects: Dollar Strength: DXY showing resilience above key levels Yield Pressure: 10-year Treasury yields rising, reducing gold's appeal Risk Appetite: Improving equity markets reducing safe-haven demand Technical Breakdown: Key support levels breached in international markets Risk Factors to Monitor Geopolitical Developments: Any sudden safe-haven demand Dollar Reversal: Unexpected USD weakness Economic Data: US economic releases affecting gold sentiment COMEX Recovery: Any sharp recovery in international gold prices Alternative Scenario If gold manages to close the gap and sustain above ₹96500, it would negate the bearish thesis. In such case, traders should: Exit short positions immediately Reassess the technical picture Wait for fresh setup Conclusion The expected gap down in MCX gold creates an ideal setup for sell-on-rise strategy. The 96350-96400 resistance zone offers a favorable risk-reward ratio for intraday traders. However, strict adherence to stop losses is crucial given the volatile nature of precious metals. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
