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Published on 04-07-2025 10:40 am

Metal’s Outlook

Bullion Outlook

• Spot Gold is expected to slip towards $3280 level amid strong dollar and rise in U.S treasury yields. Stronger than expected economic data from US signaled resilience in the economy, giving more room for US Fed to hold rates steady. As per CME Fedwatch tool, market expectations that the Fed will leave rates unchanged at its July meeting rose to a 94.8% probability, up from 76.2% a day ago. Additionally, investors are worried that despite of having trade deals with major trading partners, tariffs are still going to be significantly higher than they were before, fueling inflationary fears. Meanwhile, demand for safe haven may increase on concerns over rising U.S government debt and uncertainty surrounding trade deal between US and its key trading partners

• Spot gold is likely to slip back towards $3280 level as long as it stays below $3360 level. MCX Gold Aug is expected to slip towards Rs 96,000 level as long as it stays below Rs 97,500 level

• MCX Silver Sep is expected to rise towards Rs 109,500 level as long as it trades above Rs 107,200 level.

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Published on 04-07-2025 10:39 am

LeadM Jul

As long as prices stay above Rs 181 intraday momentum mostly on the positive side.

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Published on 04-07-2025 10:23 am

Market Outlook

The Nifty 50 ended the day at 25405 after a volatile session on weekly expiry. The India VIX ended at 12.38. The Advance-Decline Ratio is 0.72, indicating negative trend. For coming expiry, 25500 strike has witnessed increase in OI Build up for both call & put options. On downside 25000 holds the highest OI, while upside has active call OI build up at every strike indicating profit booking from higher levels. A low PCR below 1 indicating more calls have been traded along with falling price, signalling call writers presence.

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Published on 04-07-2025 10:21 am

BANKNIFTY

* The banking index saw profit booking for the second consecutive session but remains within an upward channel.

* Except for IndusInd Bank and IDFC First Bank, all banking stocks in the index closed down, led by weakness in PNB and Kotak Mahindra Bank.

* The all-time high of 57,628.40 now acts as a strong resistance level, with a breakout potentially signaling new highs.

* On the flip side, the 56,390–56,100 zone will act as strong support provided by 50% and 61.8% retracement of recent up-move.

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Published on 04-07-2025 10:21 am

NIFTY

* Nifty traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase.

* After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.

* However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200 mark.

* On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle.

* Participants should align their positions accordingly, with a strong focus on stock selection.

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