Spot gold crashed to breach the crucial support around $2620 on Tuesday as commodities witnessed across-the-board selling.
Nifty has retraced 23.6 per cent of the entire fall seen from its all time high. Nifty has also closed near its 50 DMA(25,045).
Stock Market Today: Analysts anticipate a weak Q2FY25, with potential profit dips due to declining refining margins for Reliance Industries.
The Nifty Bank Index is positioned near its key support levels, making this an ideal time to adopt a "buy on dips" strategy.
The Nifty 50 Index is experiencing a downward trend in the near term. However, the index is approaching a strong support zone at 24,800
Since the March swing lows, prices of JK Paper saw a strong rally, doubling from Rs 320 to Rs 640. However, over the last couple of months, prices entered a correction phase
After peaking around 817, SBICARD saw a steep drop of nearly 78 points, marking a significant decline of around 10 per cent in its value
Gold price today: Gold prices are expected to be highly volatile on geopolitical worries and crucial nonfarm payroll report.
Stock Market Today: Morgan Stanley and Citigroup have acquired 43.75 lakh shares of HDFC Bank for over Rs 755 crore at an average price of Rs 1,726.20 each.
Coforge is placed near its all-time high and has been outperforming the IT sector
The Nifty Bank Index is currently trading at 52,989.70, and the near-term trend appears to be down. However, this correction should be viewed as a healthy pullback within an overall bullish structure
The Nifty Index has formed its first red candle on the daily charts, signaling a shift in momentum as some bearishness and profit booking have started to emerge
Canara Bank has showcased a strong resurgence from the pivotal support of 200 SMA on the daily time frame chart and has bounced to witness a sloping channel breakout
The nearly three-month-long bearish phase in BANKBARODA appears to be nearing its end, as a bullish pattern emerges on the daily chart
Short term trend of the Nifty remains bullish as it is placed above its 5, 11 and 20 day EMA.
The Nifty Pharma Index remains range-bound, trading between 23,450 and 22,925. A close above or below these levels would act as a directional trigger, leading to either a bullish or bearish breakout.
NTPC is displaying a strong uptrend, characterised by a steady pattern of higher highs and higher lows.
The Nifty Auto Index appears overbought on the near-term charts, indicating a potential pullback in the coming sessions, likely after the monthly expiry.
The Nifty 200 index is valued at about 24 times its 12-month forward earnings estimates, versus last decade's mean of about 19 times
Gold hit a fresh record high of $2664 and closed with a hefty gain of 1.09 per cent at $2657.