Here is a look at how different commodities are behaving in today’s market.
Even as per options data, the level of 13,000 needs to be surpassed to regain required momentum on the upside. While on the flip side, sustenance below 11,800 could attract mild correction till 12,700-12,650 zone.
One has to be selective but overall the metal sector is headed for better earnings growth, says market expert Dhiraj Sachdev.
Global traders and investors are in dilemma over vaccine hopes news and current challenges on economic recovery. The dollar index ended marginal down by 0.24 per cent for the day.
The index was trading 2.48 per cent up at 2760.95.
As the quarterly earnings and festive season are behind us, the market is likely to witness year-end blues now.
MCX Gold futures continued to move in sideways trend near the lower band of the channel.
MCX Gold futures witnessed sharp decline after breaching the lower bound of the upward sloping channel forming a bear flag. On the daily charts, the price is also trading below the 21 day EMA (Rs 50,926) which could be the supply zone for the day.
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