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Time of India
a day ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for August 8, 2025 as it sustains above RS 1 lakh mark; why a 'buy on dips' strategy makes sense?
Gold price prediction: Market structure and momentum indicators favor a Buy on Dips approach. (AI image) Gold price prediction today: Gold rates are moving upwards as demand for safe haven assets stays in focus. Where are gold prices headed and what should investors do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold October Futures on MCX extended their upward momentum in early trade, supported by strong buying interest and a technical breakout above key short-term resistance levels. The contract is currently trading around ₹1,01,930 after hitting an intraday high near ₹1,02,300. Market structure and momentum indicators favor a Buy on Dips approach, with ideal entry opportunities near ₹1,01,500 and a stop-loss at ₹1,00,800. Gold Technical Setup Overview: 1. EMA Alignment – Short-Term Bullish Bias: The 8-period EMA (₹1,01,900) has crossed above the 21-period EMA (₹1,01,500), signalling bullish momentum. Price action is holding above both averages, suggesting that pullbacks to the ₹1,01,500 zone are likely to attract fresh buying. 2. Bollinger Bands – Expansion Phase: Price is trading near the upper band after a volatility expansion, indicating strong upside momentum. While short-term consolidation is possible, the broader bias remains positive unless the middle band (near ₹1,01,500) is breached decisively. 3. Pivot Point & Support Zones: Yesterday's pivot levels place strong support around ₹1,01,500, which also aligns with EMA 21 and a previous breakout zone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3, 3.5 & 4 BHK Apartments Near HITEC City from ₹1.65 Cr Honer Signatis Book Now Undo This confluence makes it a key demand area for intraday traders. 4. Momentum Indicators – RSI & MACD: • RSI is holding comfortably above the 60 level, showing strength but not yet in extreme overbought territory. • MACD is in positive crossover territory, supporting continuation of the upward trend. 5. Volume & Open Interest: A surge in volume during the breakout rally indicates strong participation from buyers. Open interest remains steady, hinting that positions are being built rather than liquidated. Intraday Trade View: • Strategy: Buy on Dips • Entry Zone: ₹1,01,500–₹1,01,550 • Stop-Loss: ₹1,00,800 • Upside Targets: ₹1,02,300 followed by ₹1,02,800 if momentum sustains • Bias: Bullish until price closes below ₹1,01,500 on the 30-minute chart Conclusion: The confluence of EMA support, positive momentum indicators, and strong volume-backed breakout suggests that gold remains in an intraday uptrend. Traders may look to accumulate on dips towards ₹1,01,500, keeping a tight risk management framework. A sustained move above ₹1,02,300 could open the gates for further upside in the short term. Stay informed with the latest business news, updates on bank holidays and public holidays .
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Business Standard
4 days ago
- Business
- Business Standard
Rupee closes lower as tariff tensions weigh; ends at 87.80/$
The Indian Rupee ended lower on Tuesday, extending early losses, as fresh pressure emerged following US President Donald Trump 's escalation of tensions with India over its continued oil imports from Russia. The domestic currency closed 14 paise lower at 87.80 against the dollar on Tuesday, according to Bloomberg. The rupee has declined 2.6 per cent so far in the calendar year and recorded its worst monthly fall in July since September 2023. The domestic currency remained under pressure and is likely to stay weak this week after Trump signalled the possibility of higher tariffs, analysts said. Trump, in the social media platform Truth Social, threatened to 'substantially' raise tariffs on Indian goods, accusing the country of profiting from the resale of Russian oil and ignoring the human toll in Ukraine. Rupee traded weakly as panic gripped markets following a late-evening post by Trump hinting at higher tariffs on India, according to Jateen Trivedi, VP Research Analyst - commodity and currency at LKP Securities. "Additionally, expectations that the US may pressure India to reduce Russian oil imports sparked fears of a higher import bill, pushing the rupee briefly below the 88 mark overnight." "The rupee is expected to trade in the 87.40-88.25 range," Trivedi said. The currency has also faced sustained pressure from foreign portfolio investors (FPIs) who extended their selling streak in equities. FPIs remained net sellers for the 11th straight session on Monday, selling equities worth ₹2,403 crore in the previous session. In this calendar year so far, global funds have sold stocks worth ₹1.03 trillion, as per NSDL data. Meanwhile, the focus will be on RBI Governor Sanjay Malhotra as the Monetary Policy Committee (MPC) begins its meeting yesterday, August 4, to decide on key interest rates. The RBI is likely to remain status quo as per a Business Standard poll, with all analysts expecting a further reduction in the 2025-26 (FY26) inflation forecast. The dollar index, the measure of the greenback against a basket of six major currencies, was up 0.17 per cent at 98.94. In commodities, crude oil prices extended their three-day fall amid looming trade tensions between India and the US. Brent crude price was down 1.12 per cent at 67.99 per barrel, while WTI crude prices were lower by 1.30 per cent at 65.43, as of 3:30 PM IST.
Time of India
01-08-2025
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for August 1, 2025; why a 'sell on rise' strategy makes sense?
Gold price prediction: Gold futures remain under pressure as the MCX Gold October Futures contract struggles to recover from recent declines. (AI image) Gold price prediction today: Gold rates continue to hover in a range as news on Donald Trump's trade policies flows in. Where are gold prices headed and what should investors do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold futures remain under pressure as the MCX Gold October Futures contract struggles to recover from recent declines. After a brief pullback from the intraday lows, prices are currently hovering around ₹98,778, with key technical indicators pointing to a weak rebound lacking bullish momentum. In light of the current setup, traders are advised to adopt a Sell on Rise strategy near ₹99,000, with a stop-loss at ₹99,450. Technical Setup Overview: EMA Resistance Cluster: The 8-period EMA is at ₹98,765, and the 21-period EMA is at ₹98,800. Price is trying to reclaim these levels but is struggling to close decisively above either, indicating hesitation and overhead resistance. A failure to sustain above ₹99,000 would confirm bearish control. Bearish Price Structure: A clear lower-high lower-low formation dominates the 15-minute chart. The attempt to bounce back from the ₹98,600–₹98,700 zone is facing headwinds from the declining short-term moving averages. Selling interest is visible on every upward tick. Volume and Open Interest: Despite a modest bounce, volume remains uneven and not supportive of a bullish reversal. Open interest trends also suggest caution, with no aggressive long buildup detected. This favors the view of a corrective pullback rather than a trend change. Pivot Point & Supply Zone: The previous day's pivot and price action suggest that the ₹99,000–₹99,200 range remains a critical resistance zone. The multiple failed attempts to hold above this level make it an ideal sell zone for intraday setups. Momentum Indicators – RSI & MACD: • The RSI is approaching the 50–52 zone but has not broken above convincingly, implying weak upside momentum. • While the MACD is not visible in the chart, the price structure suggests a shallow or weak crossover at best, lacking strength to confirm bullish continuation. Conclusion: Given the confluence of resistance around ₹99,000, lack of follow-through volume, and weak momentum, traders may consider a Sell on Rise strategy in the range of ₹99,000–₹99,100, maintaining a stop-loss at ₹99,450. Downside targets include ₹98,550, followed by ₹98,200 if selling intensifies. Until the price decisively breaks and sustains above the 21 EMA with supportive volume, the trend remains vulnerable to further declines. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
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Business Standard
30-07-2025
- Business
- Business Standard
Rupee hits five-month low on US tariff warning, oil spike; ends at 87.42/$
The Indian Rupee weakened to its lowest level in over five months on Wednesday as sentiment soured following higher-than-expected tariff remarks by the US President and a surge in oil prices. The domestic currency closed 60 paise lower at 87.42 against the dollar on Wednesday, the lowest level since February 28 this year, according to Bloomberg. The local unit has depreciated 1.9 per cent so far this month and 2.12 per cent in this calendar year so far. This is so far the worst monthly fall since September 2022, when it fell 2.32 per cent. The weakness in currency came after Trump's statement that India may face a tariff rate of 20 to 25 per cent. He, however, cautioned that the final levy still was not finalised. India is racing to finalise a trade deal with the US as the 1 August deadline approaches. Officials from both countries are engaged in continuous negotiations, although major disagreements remain unresolved. Rupee traded weak, breaching the 87.40 mark as rising crude prices and a stronger dollar index weighed on sentiment, according to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. Market participants remain cautious ahead of the US Federal Reserve's policy announcement tonight, with additional key US data lined up this week likely to keep volatility elevated, he said. "The rupee is expected to trade within a broader range of 87.00-87.70." Adding to the downward pressure are persistent foreign portfolio investor (FPI) outflows from Indian equities, with capital being redirected toward developed markets that are currently trading at record highs, analysts noted. FPIs have sold Indian equities for the seventh straight session in the secondary market, according to data from NSE. On Tuesday, FPIs offloaded stocks worth ₹4,636.60 crore. In the last seven sessions, global funds have sold stocks worth ₹24271.98 crore. The dollar index is poised for the best month this year, with the measure of the greenback against a basket of six major currencies, down 0.05 per cent at 98.83.
Mint
29-07-2025
- Business
- Mint
Stocks to buy for short term: From Paytm to Cipla — experts recommend THESE 5 technical picks for the next 2-3 weeks
Stocks to buy for the short term: The Indian stock market has been on a losing streak for the last three consecutive sessions, fueled by heavy foreign capital outflow, a delayed India-US trade deal, and weak Q1 earnings. The Sensex has crashed 1,836 points, or 2.2 per cent, while the Nifty 50 has fallen 2.1 per cent in the last three sessions. Investors have lost over ₹ 12 lakh crore in this period. On Monday, July 28, the Sensex closed 572 points, or 0.70 per cent, lower at 80,891.02, while the Nifty 50 settled at 24,680.90, suffering a loss of 156 points, or 0.63 per cent. Experts believe the market may remain weak in the near term. "The RSI continues to support the bears with its negative crossover. In the short term, the index may remain under pressure, with a possibility of slipping towards 24,550. On the higher end, resistance is seen at 24,800 and 24,950," said Rupak De, Senior Technical Analyst at LKP Securities. While the market sentiment appears fragile, experts see stock-specific opportunities across segments. Mandar Bhojane of Choice Broking and Vishnu Kant Upadhyay of Master Capital Services suggested five stocks to buy for the next two to three weeks. Take a look: Paytm has recently completed a breakout from a classic cup and handle pattern on the daily timeframe. Following this technical move, the stock is holding steady above its breakout point and gearing up for another potential rally. The increased trading volume accompanying this phase points to strong buying interest in the stock. "If Paytm can secure a close above ₹ 1,100, it may set its sights on reaching the immediate targets of ₹ 1,210 and ₹ 1,240. For prudent risk management, setting a stop-loss at ₹ 1,030 is advised, helping to cushion against any unexpected decline in price," said Bhojane. Garuda has recently broken out of a rounding bottom pattern, showing consolidation above the breakout level and is now on the verge of a fresh breakout. This move has been accompanied by a significant increase in trading volume, which signals strong bullish momentum. "If the price closes above the ₹ 185 level, it could potentially reach short-term targets of ₹ 210 and ₹ 220. To manage risk prudently, it is recommended to set a stop-loss at ₹ 170 to safeguard your investment against a possible market reversal," Bhojane said. Cipla has recently broken out of a symmetrical triangle pattern on the daily chart, accompanied by a notable increase in trading volume, which suggests strengthening bullish momentum. "If the price manages to sustain itself above the key resistance level of ₹ 1,580, the stock could aim for short-term targets of ₹ 1,700 and ₹ 1,750," said Bhojane. "The rising volume adds conviction to this breakout, indicating strong buying interest. However, to prudently manage risk, it is advisable to set a stop-loss at ₹ 1,510 to protect your investment from any unexpected market reversal or downturn," Bhojane said. Cipla has broken out of a prolonged consolidation phase with a strong bullish candle backed by rising volume, signalling aggressive buying. The stock is forming a series of higher highs and higher lows, confirming a sustained uptrend. It is trading above all key moving averages, reinforcing positive momentum. RSI is rising, indicating strength, and MACD has given a fresh bullish crossover. "The overall structure suggests strong momentum and continued buying interest," said Upadhyay. Supreme Industries broke out above a key resistance zone, signalling the start of a bullish phase. Following the breakout, it retested this zone, now acting as support, by forming a textbook double bottom pattern, reinforcing the strength of the level. The stock has resumed its uptrend, forming higher highs and lower lows. Price remains above all key EMAs, and volume expansion supports the breakout. RSI is holding above 60, and MACD has given a fresh bullish crossover, indicating sustained upside momentum. Navin Fluorine has broken out above a long-term resistance near ₹ 4,890-4,950 zone and is currently consolidating in a narrow range, indicating healthy digestion of gains and setting the stage for a potential further rally. The formation of higher highs and higher lows reflects a sustained uptrend. Price remains above all major EMAs. Rising volume during up moves, coupled with an RSI above 65 and a bullish MACD crossover, reinforces positive momentum and the structure's underlying strength. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
