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Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
The MCX Silver December futures may re-test the 200-DMA hurdle placed at Rs 60,900 in the near term.
Investors across the country are hoping that Samvat 2079 will bring good tidings with it. Let's help you prepare for the trading week ahead, and share how analysts see the markets shaping up this year
On the upside, the MCX Crude Oil futures are likely to face resistance around Rs 7,070 and Rs 7,220. Natural Gas futures face resistance at Rs 485, above which it may pullback towards its 200-DMA.
A recent survey by Bank of America Corp suggested market capitulation before a rally in stocks by the first half of next year. But what is market capitulation? Here is a report
According to the technical analyst from Anand Rathi, Arvind Fashions can rally to Rs 440, while CAMS can surge to Rs 3,650 within a year's time.
The bears are likely to have the upper hand as long as MCX Gold futures trade below Rs 50,350 this week; Near resistance on the upside is seen at Rs 50,900.
The MCX Crude Oil futures are likely to trade in a broad range of Rs 6,900 - Rs 7,770 in the near term. Natural Gas futures can pullback to Rs 580, is support at Rs 520 is sustained.
The MCX Silver futures were seen testing the 200-DMA after a gap of almost six months and could move to Rs 63,900-level in the near term.
Tata Group firm said its witnessed healthy double-digit growth across most businesses with overall sales growing 18 per cent YoY in September quarter.
Stocks to Watch Today: Shares of Titan are likely to be in focus after the company reported 18 per cent sales growth for the September quarter; Dabur may see a downtick owing to earnings warning.
The pullback in MCX Crude Oil futures is aided by cut in oil production by OPEC+ members. The commodity crossed its 50-DMA for the first time since July 2022.
Stocks to Watch Today: Shares of oil producers and marketing companies are likely to be in focus following the steep production cut by OPEC+.
Stocks to Watch Today: TCS is set to win $2 billion deal. Also, shares of oil related companies are likely to be in focus ahead of the OPEC+ meet on likely production cut.
On the downside, near support for Gold futures seen at Rs 49,860, below which re-test of Rs 48,900-level seems likely; Silver futures face an uphill task of conquering multiple hurdles on the upside.
Stocks to Watch Today: Domestic oil & gas related stocks are likely to be in focus as the government reduced tax on the former, while raised prices of natural gas to record levels.
The MCX Crude Oil October futures are likely to test major support of 100-WMA around the Rs 5,900-level. Whereas, for the week, Rs 530-level is the key support for Natural Gas futures.
As per the weekly Fibonacci chart, the Rupee can depreciate to 82 - 82.20 - 82.40 during the week. However, in case the currency sustains below 81.55-level a corrective move to 80.50 seems possible.
The 48,900-level is the 100-WMA for MCX Gold October futures, below which the next support stands around Rs 44,500 - 200-WMA. Momentum oscillators indicate a mixed outlook for MCX Silver f
Stocks to Watch Today: UCO Bank became the first bank to get RBI nod for Rupee trade settlement a/c with Russia; The Central Bank warns M&M Finance against outsourcing recovery agents.
Stocks to Watch Today: In the F&O space, Ambuja Cements, Can Fin Homes, Delta Corp, Escorts, PVR and RBL Bank are in F&O ban period on Thursday.