Recently, Chennai Petroleum has formed a double-bottom pattern following a steep decline of 650 points, representing a 54 per cent price cut
A long build-up is seen in the Torrent Pharma Futures, where we have seen an 18 per cent rise in the open interest with prices rising by 2.5 per cent
Early indicators pointed to a subdued start, with GIFT Nifty Futures trading 84 points lower at 23,934 at 6:55 AM
We remain bearish on oil prices for 2025, although Opec+ extension may hold prices from steep fall in Q1-2025
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Crude prices moved higher Monday on the prospects for additional stimulus measures in China that could revive economic growth and energy demand
Cues from F&O market for December 10: Foreign investors are seen building long positions in Nifty futures thus far this month, with open interest rising by 27% in the last six days.
Additionally, the counter has surpassed its recent swing high, coinciding with earlier breakout zones, backed by rising volumes
Spot silver is changing hands at $31.37, up around 0.22 per cent on the day, at the time of writing this report
Spot gold at the time of writing this report is trading at $2,631, down nearly 0.76 per cent on the day
Long build up is seen in the Lupin Futures, where we have seen 2 per cent rise in the open interest with price rising by 1 per cent
Various factors like renewed buying by foreign investors, global cues and improving sentiment among other reasons were seen driving the markets today
The Nifty has retraced over 38 per cent of its recent losses; technically the Nifty seems on course to test 24,700 levels in the near-term. Track key support, resistance levels here.
Nifty IT index remains range-bound, trading between 44,400 on the upper side and 42,800 on the lower side, while, Nifty Auto index is currently exhibiting a bearish trend in the near term
The markets experienced a volatile session and ended nearly flat, taking a breather after three consecutive days of gains
A decisive move above 24,537 is likely to open the next upside target of 24,900 in the near term. The immediate support is placed at 24,300, as per the concept of change in polarity
The meeting was originally scheduled for December 1, 2024. A handful of Opec members are set to gradually bring 2.2m b/d of supply back onto the market next year
With limited domestic triggers, investors are expected to focus on stock-specific actions and developments in the primary markets
Emami has broken out of a bearish trendline, suggesting that downward pressure has been alleviated, paving the way for a potential bullish move
Bhosale picked one banking stocks and one IT stock to buy on December 2, 2024