Gold and Silver Updates

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Edelweiss Securities

Index: Nifty
Nifty has ended at document highs after advancing over 600 factors within the final 5 buying and selling days. Because the begin of this week, the Nifty has entered a contemporary purchase zone with upside targets of 14,200. Downward motion on the index would begin solely after a closing beneath 13,700.

High buying and selling concepts
Analyst: Sagar Doshi – Technical Analyst, Research Edelweiss Wealth Management

IGL: BUY

  • CMP: Rs 511
  • Goal: Rs 570
  • Cease loss: Rs 480
  • The stock has damaged out of the buying and selling vary of Rs 500-470. Volumes on breakout are above common, including to the boldness within the breakout. Optimistic crossover within the RSI additionally signifies that constructive momentum ought to proceed.

Naukri: BUY

  • CMP: Rs 4,703
  • Goal: Rs 4,950
  • Cease loss: Rs 4,600
  • Naukri has been a constant outperformer within the IT House. After posting an honest run up from ranges of Rs 4,500, the inventory has given a breakout after giving a minor correction.

HDFC: BUY

  • CMP: Rs 2,519
  • Goal: Rs 2,700
  • Cease loss: Rs 2,400
  • HDFC has been capable of conquer its pre-Covid highs. The inventory has posted a pleasant run up after taking helps at Rs 2,350 degree. The inventory has additionally damaged its earlier swing excessive of Rs 2,500, suggesting constructive momentum within the inventory may proceed. The inventory has additionally given a breakout on the weekly time-frame.

Bajaj Finance: BUY

  • CMP: Rs 5,200
  • Goal: Rs 5,800
  • Cease loss: Rs 5,000
  • The inventory has given a wise pullback publish a shallow correction. A detailed above its latest swing excessive (Rs 5,310) would set off a contemporary spherical of upside within the inventory.

F&O Tracker
Analyst: Sagar Doshi – Technical Analyst, Analysis, Edelweiss Wealth Administration

FIIs’ stance continues to be bullish on Indian markets. They’ve pumped in Rs 43,000 crore within the money market within the month of December up to now. Within the month of November, this determine was Rs 65,000 crore. In index futures and inventory futures, FIIs are internet bullish. On the choice entrance, 14,000 strike can be resistance for any upside as this strike has most name open curiosity. On the draw back 13,700 strike has most Put open curiosity. The max ache degree is 13,800.

Actionable

Purchase Financial institution Nifty 31,500 CE @ 194 and Promote 32,000 CE @ 48.

  • Web Unfold: 146
  • Cease loss: 40
  • Goal: 350

Foreign exchange Technical
Analyst: Munjaal Raval – Technical Analyst, Analysis, Foreign exchange & Charges, Edelweiss Wealth

USD-INR Standing


USD-INR is transferring in the direction of its important help zone, which is positioned round 73.00 deal with.

  • Present Spot: 73.43
  • Name for the day: Purchase on dips round 73.10
  • Goal: 74.00
  • Cease Loss: 72.80

GBP-USD Standing


GBP-USD has reversed after discovering help close to 1.32 deal with the place the rising pattern line is positioned.

  • Present Spot: 1.3450
  • Name for the day: Purchase on dips round 1.34
  • Goal: 1.37
  • Cease Loss: 1.33

Analyst: Ankit Narshana, Commodity Analyst, Analysis, Edelweiss Wealth Administration

Purchase MCX copper above Rs 613

  • Goal: Rs 625
  • Cease loss: Rs 606

Purchase MCX silver above Rs 68,700

  • Goal: Rs 69,800
  • Cease loss: Rs 68,100

Purchase MCX gold above Rs 50,250

  • Goal: Rs 51,380
  • Cease loss: Rs 49,950



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