Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold continued to face significant pressure as the strength in the dollar index kept prices under $2,600 on COMEX, with a drop of $24. In MCX, gold fell by over Rs.500, reaching Rs.74,750 and slipping below Rs.75,000 for the first time since October 10th. The current downtrend suggests that further weakness could persist, potentially driving prices down towards Rs.72,000 ...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty slipped from its recent consolidation on the daily chart, indicating growing pessimism in the market. The index has been holding below key short-term moving averages, specifically the 21-EMA and 50-EMA, further weakening sentiment. The daily RSI is declining, accompanied by a bearish crossover. In the short term, the index may move towards the 23,600–23,650 range, while resistance...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold traded weak, dropping by ?300 to ?77,150 and by $20 to $2,685, amid strength in the dollar index and the Federal Reserve's policy announcement that aligned with expectations of a 0.25% rate cut. The Fed's outlook, coupled with inflation trending toward the targeted 2%, offered no new surprises to support gold prices. Profit booking continued following Tr...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The 24,000 level is expected to serve as strong support for the index. If it holds above this level, Nifty bulls may still have an opportunity to regain momentum. However, a break below 24,000 could further weaken the market. The RSI indicator remains in a positive crossover, indicating that short-term momentum is likely to stay strong. In the near term, the index may recover toward 24,500, but a...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty slipped sharply as the index failed to move beyond the 21 EMA, leading to significant profit booking in the market. On the daily chart, a bearish engulfing pattern has formed, indicating weak market sentiment. This sentiment may worsen if the Nifty decisively sustains below 24,200. On the higher end, the 24,500-24,550 range may act as resistance."
Above views are of ...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices are currently facing minor resistance near the ?78,500 level, with a similar hurdle in the international market at around $2,745-$2,750. This resistance is holding firm, as the upcoming US election adds a layer of caution for investors. Additionally, the Federal Reserve's interest rate cut decision on November 7th is expected to keep gold prices vol...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has corrected below 24,000 as the index slipped from its recent consolidation pattern. Sentiment will likely remain weak in the short term or until it decisively moves above 24,100. It might extend its correction towards 23,650 and lower on the lower end. On the other hand, a decisive move above 24,100 could trigger a rally towards 24,500."
Above views are of the ...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices experienced volatility as Comex gold found support near $2,730 but struggled to break above $2,750. With the U.S. election results due in the next two days, market participants are expected to have mixed sentiments, likely resulting in a range-bound session between Rs.78,000 and Rs.79,000 in MCX. Once the election outcome is announced, gold could see a ...
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"The rupee weakened by 0.04, trading at 84.10, as the dollar index strengthened and FII selling intensified at the start of November, ahead of the US election. FIIs appear to be reducing their exposure to Indian markets, awaiting the outcome of the election, which has led to index-level corrections. The rupee is expected to remain volatile, with the US election res...
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty index remained volatile before closing on a negative note. On the hourly chart, it encountered resistance around the 50 EMA, leading to a pullback toward 24,200. Sentiment may continue to remain weak as long as Nifty stays below 24,500, with any rise toward this level likely facing selling pressure. On the downside, support is placed at 24,000, while resistance levels are seen at 24,500...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices in MCX remained positive, rising above Rs.78,750, with Dhanteras adding enthusiasm for long positions. More buying occurred on this auspicious day, pushing prices up by over Rs.200 on MCX and trading above Rs.80,000 in the physical jewelry market. Upcoming U.S. economic data, including NFP and unemployment reports, may influence gold's movements, with majo...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices maintained a positive stance as the dollar remained muted near 104.4. After witnessing some selling pressure yesterday, which saw prices drop to ?77,600, gold quickly rebounded to ?78,350, posting a gain of ?500 from yesterday's lows. This recovery highlights the strong underlying sentiment for gold, which continues to benefit from the broader macroeconomi...
Quote on Gold By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices have surged again, with buying interest in safe-haven assets such as bullion remaining strong as risky assets continue to underperform. On the MCX, gold prices have risen to Rs.78,300, reflecting a Rs.300 gain, and the bullish momentum continues to drive prices higher. As investors seek refuge in precious metals amid global economic uncertainties, geopolitical...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Silver from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Silver prices have continued their rapid upward momentum, surging past Rs.100,000 in the physical Indian markets, with the fast-paced rally suggesting that prices could reach Rs.110,000 before Diwali. As retail investors rush to buy silver, spurred by the heavy rise in gold prices, silver appears relatively more affordable at Rs.100,000 per kilogram, while gold is now...
Quote on Silver from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices maintained their upward trajectory, rising by Rs.500 to Rs.78,250 in MCX, with Comex gold gaining $10 to reach $2,730. The ongoing escalation of conflict in the Middle East continues to act as a strong support for gold, as investors seek safe-haven assets amid rising geopolitical risks. Additionally, the downward trajectory in the interest rate cycle, coupled ...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"Nifty remained volatile throughout the day as traders were uncertain about the market direction. On the higher end, it found resistance at the 50EMA on the daily timeframe. Additionally, the index failed to move beyond 25000, which led to selling pressure that pushed it down to 24700. If Nifty falls below 24700, the selling pressure may intensify. However, if it holds above 24700, a smart recover...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Silver by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Silver prices have gained strong upward momentum, with physical market prices surpassing ?100,000 per kg in India. As gold prices soar, retail buyers are increasingly turning to silver, viewing it as a relatively cheaper alternative at these levels, especially with gold now touching ?78,000 for 10 grams. The rise in silver is being driven not only by its appeal as a mor...
Quote on Silver by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Gold prices continued their strong upward momentum, with a sharp rise of Rs.500 in MCX, taking the price to Rs.77,600, supported by Comex gold surging above $2,710. This robust strength is largely driven by the expectation of ongoing interest rate cuts in the US, with further reductions anticipated in the near future. The broader trend in MCX gold has been distinctly posi...
Quote on Gold by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has moved up sharply after forming a panic bottom around 24,570, failing to sustain below 24,700. On the hourly chart, a positive divergence is visible on the RSI (14), indicating a shift toward positive price momentum. Immediate resistance is seen at 24,900, which previously acted as support. A decisive move above 24,900 could induce a short-term rally. The trend is likely to remain st...
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
