Author: Sumit Makhija

On the first trading day of the week, Indian benchmark indices ended higher in the highly volatile session with the Nifty closing above 15,800. The Indian stock market recovered it’s initial losses, helped by banking stocks, as preliminary Q1 business data showed healthy credit growth. Some selling across IT stocks was seen, as Investor preferences are shifting from growth to value stocks. What’s Next? As we approach the new earnings season, the market’s primary attention will be on quarterly results and an updated outlook for the new fiscal year. Volatility will be high on the result-specific stock. Overall look for…

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Dear Followers, Hope you must be following our weekly and intraday MCX Commodities levels and getting benefit from that. Here are our this week’s Major MCX Commodities weekly support and resistance levels. Have a look! Last Week’s Recap Last week we have seen selling pressure in almost all MCX Commodities. We have seen this turmoil after the FED’s indication of aggressive interest rate hikes in futures also, along with fear of recession in Major Economies of the world. In the Base Metals counter ZINC and COPPER hit worst during last week. ZINC, From its weekly high of 304.50 to its…

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Indian Stock Market started the week on a strong note but couldn’t build upon the gains, with global markets looking upbeat in the lack of any negative news. As the week continued, the trading range for key indexes shrank. As we stepped into a new series, month and a quarter on Friday, markets felt some tremors initially from the major global peers; but it has managed to withstand it successfully and in fact, due to a smart V-shaped recovery in the latter half, the Nifty managed to reclaim 15700. Bank Nifty too closed above 33500 mark. Now, What’s Next? The…

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Indian Stock Markets ended June expiry on a negative note due to volatility. Although bulls resurfaced in the early session, the benchmark indices sank sharply and, more significantly, concluded on a poor note against a backdrop of unfavorable global indications. Investors were haunted by the familiar fears of additional interest rate hikes and the prospect of a recession. What’s Next? The market’s undertone remains bearish due to weak global cues and persistent foreign fund outflows. We will advise traders to avoid placing huge bullish bets and follow a stock-specific approach. Indian Equity Market Summary Nifty (down -0.12%) –…

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Gold, Silver and other Major MCX Commodities Technical Support and Resistance levels for today     Today’s Major US Economic Data Keep an eye on Core PCE Price Index m/m and Unemployment Claims data scheduled at 06:00 PMAlso, Natural Gas inventory is scheduled at 08:00 PM.   GOLD Gold has support at 50500 and resistance 50800. Break and sustain below 50500 will take it to the next support level of 50350…50200 and sustainable trade above 50800 can see further upside move towards the next resistance level of 50950…51100   SILVER Silver has support at 59100 while resistance at 59800. Sustainable…

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After a four-sessions gain, the Indian equity market slumped ahead of weekly as well as monthly F&O expiry. Pulled down by losses across sectors as concerns about rising oil prices and inflation resurfaced. Overnight data revealed the US consumer confidence index fell to its lowest level since February 2021, further dampening optimism across Asian shares. Trade Highlights Include: The rupee has fallen to a new record low against the dollar. AU SFB falls 7% after CS commences coverage. Isha Ambani is set to take over as CEO of Reliance Retail. The SIS has approved a share buyback of…

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After three straight days of gains, Indian equities slipped down on Tuesday, reflecting overnight losses on Wall Street and as Oil prices recovered from last week’s fall. Titan Company was the Nifty’s greatest percentage loser, plummeting to a one-week low, while Asian Paints fell more than 3%. Trade Highlights Include: The rupee falls to a new low as global crude prices rise. Zomato drops another 6% after signing an agreement with Blinkit. According to ONGC, there was a helicopter incident near a rig in Mumbai High. Tata Motors will raise the cost of its CVs on July 1,…

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Major MCX Commodities support and resistance levels for today evening session!   GOLD   Gold has support at 50700 and resistance 51000. Break and sustain below 50700 will take it to the next support level of 50550…50400 and sustainable trade above 51000 can see further upside move towards the next resistance level of 51150…51300   SILVER   Silver has support at 60200 while resistance at 60800. Sustainable trade below 60200 will take it to 59900…59600 very soon. If it breaks and sustain the resistance level of 60800 then will take it to 61000—61300 respectively.    COPPER  …

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On Monday, Indian stock market hit a more than two-week high and was set for a third straight session of gains, boosted by technology sector stocks, also falling oil prices eased inflation worries. After a high closing on Wall Street last week, broad Asian rivals climbed on Monday as oil fell on demand concerns, easing expectations of sustained inflation and aggressive Federal Reserve tightening. What’s Next? While the shift in investors’ mood has come as a huge relief, the market may remain optimistic for a few more days before becoming turbulent due to fears about the global economy slowing due…

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Major MCX Commodities this week’s (27th June to 01st July 2022) weekly support & resistance levels.   MCX Commdoities – GOLD (August)   Gold posted a loss for the second straight week, near term technical outlook reveals that buyers remain on the sidelines. It has a support zone around 50500—50400 level, any sustained move below this level will take it down towards 50200—50000. If it manages to close below 50000, which is a crucial support level and also acts as a psychological support level, then we may see levels of 49750—49400 in the coming days.   Resistance on the upside…

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