RIL stock has gained 8% in the last 2 months, after a 4-month consolidation around its key trend line support - a key technical indicator the stock has been holding above since the last 11 years.
Silver is up nearly 17 per cent since its cycle low of around $28.15 made on April 4. Although it is lagging gold, it is up around 14 per cent year-to-date (Y-T-D)
On April 24, spot gold traded between $3,288 and $3,367 as the metal recouped some of its huge loss that occurred due to sell-off on April 22 and 23
Data from NSE shows that retail investors have turned net bearish in index futures for the first time in six months; while DIIs remain the most bullish among market participants.
Strategy View: With a likely trading range of 23,700-24,600 in the coming week, a Short Strangle strategy could be an effective way to capitalise on expected consolidation
We maintain our positive outlook on the Nifty and recommend continuing with a "buy on dips" approach, citing strong support around the 23,700-23,800 zone
The stock has broken above its 200 DEMA with rising volumes in the last few sessions. The RSI indicator is rising to support the positive momentum
Adani Power was seen testing resistance at its 200-DMA after more than six months. The stock needs to break above ₹610 for a likely fresh upside rally, suggests the technical chart.
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Technical charts suggest that the Nifty MidCap 150 index may succeed in conquering the long-term moving average; while the SmallCap index faces a tougher challenge.
Short-term technical indicators have entered overbought territory, suggesting markets may consolidate
The Nifty 50 index has surged over 11 per cent in the last eight trading sessions, and in the process has conquered its key moving averages, shows the daily chart.
The Nifty is quoting barely 150 pts shy from the 24,000-mark; but the key hurdles stand at 24,050 and 24,169 levels, shows the technical charts.
Given the sharp rally in the last few days and midcaps experiencing a fatigue, Nifty is also likely to take a breather and undergo a consolidative phase
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The long build-up is seen in the Bank Nifty futures, where we have seen a 3 per cent (Prov) rise in open interest with it rising by 2.2 per cent
Spot gold surged solidly higher on safe haven demand as trade war intensified with the Trump Administration looking into imports of computer chips, chip making equipment and pharmaceuticals
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Technically, the stock is placed above key moving averages, backed by a favourable price-to-moving averages action on daily chart. On the upside, the stock can potentially zoom to ₹ 2,100 levels.