India Business

Energy Sector Outlook for Commodity Traders: Nirmal Bang

Crude oil: The counter recovered from the bottom of 3245 and closed positive just above the open of 3343. The yesterday’s movement indicates reversal in the trend. Thus prices can move positive if maintaining above the 7 DMA of 3315. The immediate resistances are seen at 3425 and 3460 levels.

Base Metals Trading Tips and Market Outlook: Nirmal Bang

Copper: The counter turned positive in the later session after making a low of 280.8. The RSI and ADX continue to indicate downtrend in the counter. Thus prices are expected to remain below the channel ie. 290 levels. Breaching above the 290 levels prices can test 21 DMA at 296.9.

Gold and Silver Futures, Commodity Market Outlook: Nirmal Bang

Gold: The counter shouted up in the later sessions yesterday from the bottom taking support from the 40 DMA and closed above the triangle. Thus the counter indicates strength in the counter. The RSI is seen improving while there is a positive crossover by the +DI. Therefore the overall move indicates positivity in the counter and breaching 15690 prices can move further targeting 15780 and 15850 in near term.

Energy Sector and Oil Futures Update for Commodity Traders: Nirmal Bang

U. S. crude oil futures shifted higher on Monday afternoon, gaining support from Wall Street's rise after data showed that the U. S. services sector expanded for the first time in a year and the dollar fell as a result. New York Mercantile Exchange natural gas futures ended sharply higher on Monday, backed by cooler U. S. weather forecasts.

A preliminary poll ahead of weekly industry and government inventory data showed forecasts that domestic crude stocks rose 2.1 million barrels in the week to Oct. 2.

Base Metals Trading Techniques and Market Research Data: Nirmal Bang

Industrial metals pared earlier losses on Monday after data showed the U. S. services sector expanded in September following 11 straight months of contraction. The weakness in the U. S. dollar further supported the prices. U. S. copper and Zinc futures reversed earlier losses and moved into positive territory.

Kazakh copper producer Kazakhmys may reduce copper output by up to 9.6 percent this year, a regional official told a government meeting on Monday.

Trading strategy for Gold and Silver Futures, Commodity Market Outlook

Gold prices rose toward $1,020 an ounce on Monday on COMEX, gaining more than 1 percent, on a combination of dollar weakness, a turnaround in crude oil prices and lingering economic uncertainty. Silver jumped by over 2 percent on COMEX.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,098.073 tonnes as of Oct. 5, up 0.1 percent or 1.525 tonnes from the previous business day. The holdings rose to a record high of 1,134.03 tonnes on June 1.

Nifty Has Strong Support At 4,980-4,960 Levels: Nirmal Bang

Indian markets fall as investors booked profit after a strong gain which pushed the Sensex below 17K and Nifty ends near 5K. Realty, telecom and metal stocks were the worst hit in today's session. The Sensex ended at 16,866 down 268 points. Nifty finished at 5,003 down 80 points after hitting a day's low of 4,991. Among the broader indices, the BSE Midcap Index fell 1.7% and Smallcap Index down 2.1%. All the sectoral indices were in the red barring FMCG. The market breadth was extremely discouraging. The Oct Nifty future ended with 9 points premium.

World Market Review and Indian Stock Market Analysis By Nirmal Bang

Asian stocks rose for the first time in four days, led by companies reliant on overseas sales, after U. S. service industries returned to growth following 11 months of contraction and commodity prices gained.

World Market Review By Nirmal Bang Securities

Indian markets fall as investors booked profit after a strong gain which pushed the Sensex below 17K and Nifty ends near 5K. Realty, telecom and metal stocks were the worst hit in today's session. The Sensex ended at 16,866 down 268 points. Nifty finished at 5,003 down 80 points after hitting a day's low of 4,991. Among the broader indices, the BSE Midcap Index fell 1.7% and Smallcap Index down 2.1%. All the sectoral indices were in the red barring FMCG. The market breadth was extremely discouraging. The Oct Nifty future ended with 9 points premium.

Base Metals Trading Tips and Market Outlook: Nirmal Bang

Industrial metals fell sharply on Friday, closing at their lowest levels in two months as poor U. S. jobs data reignited worries that global demand may take time to pick up.

Machinery orders in Japan, the world's second-largest economy, fell 9.3 percent in July from the previous month, in a sign corporate spending appetite may weigh on the country’s efforts to crawl out of its deepest slump in decades.