Silver futures up 0.36% in afternoon trade

Silver prices rose to Rs 49,160 per kg on June 30 as participants increased their long positions.

Silver holdings in iShares ETF increased 37.67 tonnes to 15,321.7 tonnes, a fresh record high.

In the futures market, silver for September delivery touched an intraday high of Rs 49,300 and a low of Rs 49,064 per kg on the MCX. So far in the current series, the precious metal has touched a low of Rs 41,558 and a high of Rs 51,697.

Silver delivery for September contract gained Rs 177, or 0.36 percent, to Rs 49,160 per kg at 14:23 hours with a business turnover of 10,573 lots. The same for the December contract fell Rs 35, or 0.07 percent, to Rs 50,028 per kg with a turnover of 13 lots.

The value of September and December contracts traded so far is Rs 700.58 crore and Rs 0.75 crore, respectively.

The spot gold/silver ratio currently stands at 99.26 to 1, which means the amount of silver required to buy one ounce of gold. The spot gold/silver ratio is hovering near 100 and may rise further unless silver gets a strong investor buying or improved demand outlook.

MCX September Silver price is likely to trade in a range for the session with support at Rs 48,800-48,650 whereas resistance is at Rs 49,350-49,530 levels, according to Motilal Oswal.

The broking firm spot silver has intraday support at $17.65-17.45 whereas resistance is at $18-18.15/oz.

At 09:00 (GMT), the precious metal was up 0.17 percent quoting at $18.09 an ounce in New York.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

MCX Gold August futures may touch Rs 49,000 on heightened risk sentiment

Commodity prices were mixed as bullion prices continued the upside while Crude oil prices traded lower during last week. Base metals complex traded mixed with Copper, Aluminium and Lead prices reporting gains while Zinc and Nickel witnessed selling. The decline in dollar index and rising virus cases kept commodity prices volatile for the week.

Bullion prices traded strong for the third consecutive week on safe-haven buying on heightened risk sentiment amid fear of slower economic recovery. The spot gold prices at COMEX rose by more than 1 percent ended at $1,771 per ounce for the week. The rapidly rising virus cases in the US, Beijing, Australia and South Americas sent bullish signal to the investors.

Gold prices rose sharply amid hopes of further stimulus measures which may raise demand for gold for dollar debasement. The Gold ETF holdings continues to hit highs as holdings at SPDR Gold Shares rose to 1,178.90 tonnes on Friday.

Gold prices may continue to trade higher in medium term as COMEX spot Gold prices are set to hit $1800 per ounce. Prices are facing near term resistance at $1,780 per ounce with support at $1,760/$1,740 per ounce. At MCX, Gold August prices have near term resistance at Rs 48,600 per 10 grams and support at Rs 47,600 per 10 grams. MCX Gold August futures may touch Rs 49,000 per 10 grams this week.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Yellow metal eases with crucial support at Rs 47,600/10 gm

India Gold August Futures eased from 48,000 per 10 gm on June 26 following positive trend in equity markets, but rising number of COVID-19 cases is likely to support safe-haven buying, suggest experts.

On the Multi-Commodity Exchange (MCX), August gold contracts were trading lower by 0.04 percent at Rs 47,921 per 10 gram at 09:20 hours. July futures for silver were trading 0.10 percent lower at Rs 48,066 per kg.

Gold and silver prices settled on a mixed note on Thursday taking a clue from U.S. economic data. Gold settled slightly weak at $1770.60 per troy ounce, while Silver settled on a positive note at $17.89 per troy ounce.

In the domestic market, both the precious metals settled on a mixed note. Gold slipped around 0.50 percent and closed below 48000 per 10 gm while Silver gained around 1 percent and settled around 48150 levels.

International prices have started flat June 26 morning in Asian trade. Traders will be better off buying the yellow metal on dips for both Gold and Silver. Crucial support is placed at 47,600 while a close above Rs 48,080 could resume bull run, suggest expert.

The surge in fresh COVID-19 cases kept downside limited, however rebound in the US Dollar kept upside limited. China is on a holiday on Friday and a lack of major trigger points could keep prices in a small range and tracking the equity markets.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Bharti Infratel shares fall 5% after Morgan Stanley remains underweight

Bharti Infratel share price was down 5 percent at open on June 25 following the board's decision to extend the deadline for merger with Indus Towers by over two months till August 31, according to a regulatory filing.

The decision was taken by the board of the company, which met on Wednesday and took note of the status of the scheme of arrangement between Indus and Bharti Infratel.

"Since the conditions precedent to be fulfilled for the scheme to become effective cannot be completed by the extended Long Stop Date that is June 24, 2020, the board of directors has further extended the Long Stop Date till August 31, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme," the company said in a BSE filing.

The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the company and its stakeholders, Bharti Infratel added.

Global Research firm Morgan Stanley has maintained its underweight call on the stock with target at Rs 175 per share. The firm is of the view that extension of long-stop date for Indus Towers merger is not a surprise adding that it is quite evident that the company would like to have clear view AGR, according to a report by CNBC-TV18.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Gold hovers near eight-year high as second coronavirus wave fears mount

Gold prices climbed to its highest level in nearly eight years on Wednesday, as demand for the safe-haven asset was boosted by worries over a surge in coronavirus infections and hopes of more stimulus measures to combat the economic blow.

Spot gold was up 0.2% at $1,769.76 per ounce as of 0234 GMT after touching $1,773, its highest  level since October 2012 in early Asian trade.

U.S. gold futures rose 0.2% to $1,785.80.

"The fears of second wave cases particularly in the U.S., and also in Latin America is driving concerns about sustained weakness in the economic recovery and that's certainly supporting safe-haven assets like gold," said ANZ analyst Daniel Hynes.

"Continued support that central banks are likely to provide to the market with bond purchasing programmes and monetary easing will clearly keep the rates low for the foreseeable future."

Central banks across the globe have taken aggressive stimulus measures and kept interest rates low helping gold prices surge more than 16% this year, as the precious metal is widely viewed as a hedge against inflation and currency debasement.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Gold price today :- could face resistance around Rs 48,300

India Gold August futures are trading flat with a positive bias on June 23 tracking muted trend in the international spot prices. Experts feel that the trend in the yellow metal is likely to remain sideways, and it could face resistance around Rs 48,300 per 10 gm.

On the Multi-Commodity Exchange (MCX), August gold contracts were trading higher by 0.02 percent at Rs 47,952 per 10 gram at 09:30 hours. July futures for silver were trading 0.28 percent lower at Rs 48,500 per kg.

Gold and silver extend gain in the international market on Monday. Gold settled at $1,766 per troy ounce and Silver settled at $17.90 per troy ounce, but due to strength in rupee both the precious metals settled almost flat in the domestic market.

“Indo-China border tensions are also supported safe-haven buying in both the precious metals. Both the side move is expected in precious metals in Tuesday's session,” he said.

Jain further added that at MCX, Gold is expected to face resistance around 48,300-48,500 zone, 47,500 act as major support for the day. Silver prices also expected to face resistance around $18-18.14 per troy ounce, $17.55 act as major support for the day.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Yellow metal rises; use dip to buy for a target of Rs 48,600 levels

Indian Gold August Futures rose on June 22 tracking positive trend seen in the international spot prices which rose to a one-month high as rising coronavirus infections intensified concerns over a delay in global economic recovery and fuelled investors to seek the safe-haven metal.

The World Health Organization reported a record increase in global coronavirus cases on Sunday, with the total rising by 183,020 in a 24-hour period, said a Reuters report. Gold is used as a safe investment during times of political and financial uncertainty.

On the Multi-Commodity Exchange (MCX), August gold contracts were trading higher by 0.66 percent at Rs 48,253 per 10 gram at 09:30 hours. July futures for silver were trading 1.1 percent higher at Rs 49,172 per kg.

Gold and silver prices rebound last week in the international as well as domestic market. International Gold closed above $1,750 per troy ounce and silver also breached crucial resistance of $17.84 per troy ounce.

Even in the domestic market, Gold gave a fresh breakout and settled with gains of 1.27 percent on a weekly basis per 10 gram. Silver prices also settled with 1.98 percent weekly gains and settled at Rs 48,636 per kilogram.

Experts feel that the precious metal is likely to remain volatile, but as long as it holds above Rs 47,800, traders could deploy buy on dips strategy for a target of Rs 48,300-48,600.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Be cautious! Fund managers pare stake in over 60 stocks over last year

Stock selection is the most important parameter when it comes to long-term wealth creation. If you are invested in the right stocks, you will be rewarded while if the stock selection is poor then the possibility of erosion of capital remains high.

There are as many as 64 stocks in which fund managers have reduced stake consistently in the last four quarters. The fall in stake could also be related to booking of partial profits while for the rest, fund managers could be turning cautious.

More than 70 percent of the companies, or 48 out of 64 companies, have given negative returns to investors in the last year. Out of 48, there are 20 stocks that have fallen over 50 percent.

The 20 stocks include Wonderla Holidays, PNB, Union Bank of India, Canara Bank, Equitas Holdings, PNB Housing Finance, Future Retail, Indian Bank, and HSIL, data from AceEquity showed.

Data for last year suggests that fund managers have been steadily reducing stake in companies that are consumer-facing, NBFCs, or auto ancillary which might have got impacted due to slowdown in demand, and economic activity, suggest experts.

“Over the next 1-2 quarters, this impact will be visible in the financial results. Considering the current market scenario, it is better to stay away from cyclical sectors. Especially in NBFCs and HFCs, the default rates for retail and MSME loans may see an increase in the next few quarters,” he said.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Money flows into equities from tier-2,3 cities during lockdown, women not far behind

While the nation has been in a lockdown since March, many investors used the time to invest in equity markets, according to top brokerage firms. According to them, there has seen a rise in new accounts being opened during March-May period, especially from Tier-2 and Tier-3 cities.

Nifty50 made an intermediate bottom at 7,500 in March and since then the index has rallied over 30 percent. Money invested in the market in March has already reaped returns.

Ajay Menon, CEO, Broking & Distribution, Motilal Oswal Financial Services told Moneycontrol monthly acquisition is up 50 percent compared to last year’s average during the March to May period.

Angel Broking, which is India's largest independent full-service digital broking firm, witnessed average monthly new accounts of over 1 lakh since the lockdown started in March.

The lockdown might have had a negative impact on the economy, but investment via equities as well as through mutual funds has only increased. The reason behind this – financialisation of savings amid record-low saving rate in banks, say experts.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Adani Green share price locked at 5% upper circuit, hits all-time high

Shares of Adani Green were locked in 5 percent upper circuit at Rs 381.55, which is also their fresh all-time high, in morning trade on BSE on June 17.

If the stock ends in the green today, it will be its 10th consecutive day of gains.

The stock has been gaining amid media reports that the company has plans to raise up to $12 billion in the next 4-5 years through the sales of green bonds to accomplish the aim of becoming the world’s biggest renewable energy player.

In a press release on June 9, the company claimed it had won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI).

As a part of the award, Adani Green will build 8 GW of solar projects and Adani Solar will establish 2 GW of additional solar cell and module manufacturing capacity.

This award, the largest of its type in the world, will entail a single investment of US $6 billion and will create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Here are 7 stocks from sectors that usually do well in bear market

The Indian market has recovered more than 30 percent from the lows recorded on March 24 but we are still in a bear market. In the past, it was noted that stocks from sectors such as consumption and IT bounced back after falling during bear market.

Since COVID-19 has brought lives at the brink of a change there will be a new normal in the world. So does that mean the list of defensives could be different in 2020?

Comparing 2008-09 and 2020, market corrections in both eras were severe and the similarities end there. The reasons for the market correction in 2008-09 were different from what they are today.

The 2008-09 market correction had its genesis in banking and its excesses while the 2020 fall is due to a medical problem and its aftermath, say experts.

“Probably work from home would become a new normal and people would prefer to travel in their own vehicles, shunning public transport, which could increase demand for passenger vehicles,” he said.

He further added that with WFH, or work from home, becoming a new normal, demand for consumer durables would be higher, and accordingly, the focus would shift depending on the earnings growth trajectory.

Deepak Jasani, Head Retail Research, HDFC Securities said that if we look at the past large falls, sectors that got hammered badly in the fall start to recover the most.

“Hence, cyclical sectors like metals, realty, power, oil & gas, PSU and some defensives like pharma did well in the up move in the past post formation of a long-term bottom. In 2020 we have to add financials to that list,” he said.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Sensex falls more than 500 points

Tracking weak global cues, Indian markets started the week on a negative note on June 15 and the fall only extended as fears of a second wave of COVID-19 infections sent jitters across global markets.

The S&P BSE Sensex plunged more than 500 points towards the close but some last-minute buying helped the index close above 33,000. The Nifty50 also held onto its crucial support at 9,800 levels.

The Sensex ended the day 552 points down at 33,228 while the Nifty50 fell 159 points to close at 9,813.

The infections are still high in India while there seems to be a resurgence of virus cases in China and the US. FII net inflows into equity were also negative over the previous two trading sessions, which could be a signal of reduced risk appetite. Our advice to investors remains to be cautious and stock specific."

Sectorally, selling pressure was seen in Bankex, realty, finance, capital goods and consumer durable sectors while some value buying was seen in energy and healthcare stocks.

Top Nifty gainers included Sun Pharma, HCL Technologies and RIL, which were up more than 1 percent.

Top Nifty losers included ICICI Bank, Bajaj Finance, Axis Bank and IndusInd Bank.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Farm sector braves pandemic shock, 4 stocks worth looking at

India's agriculture sector stands out as a ray of hope as it has been relatively less affected by the coronavirus pandemic.

India is the largest exporter of rice globally and second-largest producer of wheat and rice after China. But the country's legal framework, so far, discouraged private sector investment in warehousing. It put stock limits on any trader, processor or exporter. When farmers brought their produce to the market after the harvest, there was a glut and due to lack of storage facilities they did not get desired price.

All this will now be streamlined as government has encouraged private investments in storage facility and allowed farmers to sell to anyone outside the agricultural produce market committee (APMC) yard.

It will bring greater competition amongst buyers, lower the mandi fee, commission for middlemen and reduce other cess that the states imposed on APMC markets. For the consumers, food inflation will remain under check.

Agriculture is one sector which can be expected to absorb the shock of the coronavirus and deliver respectable growth. As a majority of Indian industries and sectors are now feared to plummet into negative territory, agriculture may be one of the sectors to register growth this year.

The country needs to strengthen agri-marketing as well as the public distribution system. When farmers begin to focus on marketing their produce, buyers will automatically knock at their doors. This will have a multi-chain effect that will boost the rural economy and lead to all-round development.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Yellow metal rallies over 1%; next target seen at Rs 47,500-48,000

India's gold price for August rose more than 1 percent on June 11 tracking positive trends in the international spot prices that jumped to their highest in more than a week after the US Federal Reserve's bleak economic projections boosted demand for the safe-haven metal.

The central bank a day earlier repeated its promise of continued support, estimating the US economy to shrink by 6.5 percent in 2020 and the unemployment rate to be at 0.3 percent at the end of the year, a Reuters report said.

On the Multi-Commodity Exchange, June gold contracts were trading higher by 1.1 percent at Rs 47,173 per 10 gram at 0920 hours. July futures for silver were trading 1.9 percent higher at Rs 49,018 per kg.

As long as gold trades above Rs 47,000-47200 levels, it will open doors for the metal to touch Rs 47,500-48,000 levels, experts say.

Gold and silver showed extreme volatility a day earlier but settled on a flat note. Weakness in the dollar index and profit-taking in the equity market supported both the metals in the afternoon session.

The Federal Reserve's cautious view on the economy puts pressure on the dollar index and could support both the metals again, experts say.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

These 18 stocks more than doubled investor wealth

A nationwide lockdown of 21 days was imposed by the government from March 24, 2020, and that was the day when D-Street made an intermediate bottom.

The S&P BSE Sensex hit an intraday low of 25,638 while the Nifty50 made a swing low of 7511 on March 24, and since then both the benchmark indices have rallied more than 30 percent to climb above crucial resistance levels.

While Sensex and Nifty might have rallied by over 30 percent since March 24, there are 18 stocks in the S&P BSE500 index that have more than doubled investor wealth in the same period.

Stocks that have more than doubled investors’ money include EID Parry, Adani Green Energy, IFCI, KRBL, Aurobindo Pharma, HEG, Reliance Power, and Vodafone Idea.

The next question is – will the winners of the lockdown carry the momentum in the near future as well? Experts feel that much of the rally in the stocks is also on account of speculation; hence, investors could well book profits as uncertainty prevails.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

Base metals to trade sideways, MCX Copper resistance at Rs 448 per kg

Commodity prices traded volatile with base metals and crude oil prices higher on positive global cues while bullion prices traded down on risk-on sentiment. Crude prices extended the gains rallying more than 11 percent on extension of output cut deal.

Copper, lead and nickel prices led the gains among the base metals on improved demand outlook while bullion prices shed 2 percent as buying in riskier assets faded demand for safe haven. The dollar index fell by more than 1 percent on improved risk sentiments which supported commodities to trade firm.

Bullion prices ended in the red for the third week with liquidation in safe haven assets on improved investment sentiments for riskier assets. The spot gold prices at COMEX ended down by 2.6 percent at $1,681 per troy ounce while Silver prices also traded down by 2.5 percent despite of rally in base metals. Gold prices traded weak as ease of lockdown and reopening of the economic activities boosted optimism over economic recovery.

The strong equity indices with supportive economic data from US and China dampened safe haven demand for gold and silver. The better than expected job market numbers from US showed strong sign of economic growth in May which led to the selloff in gold prices on Friday. The Gold ETF holdings at SPDR Gold Shares declined by 0.4 percent to 1,128.11 tonnes on Friday.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

'Bank Nifty could touch 22,000, opt for modified Married Put strategy'

Bulls continued to rule the Street in the week gone by and banking giant's outperformance has placed the Bank Nifty above the 21,000-mark. More than 1,700 points gain in the banking index over the week indicating that bulls are having an upper hand and this rally could continue in an upcoming week as well.

Considering the fact that the market has rallied sharply over the last few days, further upside seems to be limited and profit booking at higher levels would also be not ruled out. Traders can play the setup with modified Married Put where long positions in Bank Nifty futures can be initiated with long positions in at the money put option and to reduce the costing of the overall strategy, deep out of the money call option can be sold.

Decent fresh open interest additions in ATM Put options indicating that bulls can still take the rally forward. Quantum of fresh open interest additions in Call Options is quite low as compared to Put Options is reflecting the confidence of bulls.

Immediate resistance on an upside is shaping up at 22,000 levels where the same strike price Call options holds maximum cumulative open interest of more than 23,300 contracts including the fresh additions of 10,644 contracts. Next major hurdle is placed at 22,500 where the Call option has witnessed fresh open interest addition of more than 9,570 contracts.

On the other hand, immediate support level exists near 20,500. The Put option of 20,500 strike price has added fresh 9,803 contracts on short side. Major support is placed at 20,000 levels where the Put option of the same strike price holds maximum cumulative open interest of 24,615 contracts after 19,000 strike price put option. Overall option chain signifies the wide trading range of 20,000 to 22,000.

More Information Visit

                    ⇩

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4

FOMO grips D-St! Small & mid-caps outperform; over 200 stocks rose 10-80 percent

What a week! At a time when most of the bad news was floating around, Indian markets recorded its biggest weekly gain since October 2017, CNBC-TV18 data showed.

The week began with Moody’s downgrade, the March quarter results were largely muted, macro-economic indicators also showed no signs of any green shoots but consistent buying by foreign investors and stimulus hopes from global central banks kept bulls in charge of D-Street.

The Nifty50 witnessed its quickest 1,000-point run-up in just six trading sessions. The S&P BSE Sensex and Nifty50 rose by about 6 percent while the S&P BSE Small-cap index was up 8.8 percent, and the S&P BSE Mid-cap index gained 6 percent for the week ended June 5.

Experts call this a phenomena which is popularly known as ‘fear of missing out’ or FOMO. The liquidity-driven rally led many investors to believe that they might not be able to catch stocks at these levels again which led to buying spree, suggest experts.

“This was more of a FOMO rally which was a mix of spare cash investments and short covering. And going forward, 61 percent Fibonacci retracement levels can take Nifty50 to levels of 10,450-10,500 after which meaningful corrections can occur. However, if the pressure sustains below 10,200 then corrections can start earlier,” he said.

There are as many as 204 stocks in the S&P BSE 500 index which rallied 10-90 percent in just five trading sessions for the week ended June 5 that include names like Indiabulls Real Estate, Titan Company, Bajaj Consumer, Max India, Vodafone-Idea, Trident, IDBI Bank etc. among others.

Stock cash tips , Equity tips , MCX tips

For Quick Trial – 91091 93302

or mail us here:  info@moneyplantresearch.com

or visit https://www.moneyplantresearch.com

https://www.moneyplantresearch.com/index/free-trial

https://youtu.be/izJlDhpEYx4