Stocks like Grasim Industries rallied more than 6%, Century Plyboards rose more than 4%, and Bajaj Auto which hit a 52-week high closed with gains of about 2% were some of the stocks in focus on Monday.
Experts are of the view that the precious metal which has slipped below 49000 could get some support around Rs 48,800. Investors can use the dip for a target of Rs 49,300 levels.
Silver - Jan 27, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International and domestic silver prices are trading weak this Wednesday morning and early afternoon trade.
Technically, LBMA Silver Spot holds a strong support near $24.80-$24.90 levels where prices could bounce back and could trade on bullish momentum up to $25.94-$26.45 levels.
Technically, MCX Silver March is trading near 66000 level above which will continue its bullish rally up to 66800-67500 levels. Support is at 65800-65000 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinion
Rupee - Jan 27, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
The Indian Rupee ended flat against the U.S. currency, as rumoured dollar purchases likely for the central bank, offset the impact of foreign banks greenback sales and was selling pressure on the dollar in the spot market.
The Rupee ended at 72.92 compared with 72.94 in the previous session. The unit had opened at 72.91, but had appreciated to a near-five-month high of 72.78 earlier in the session.
Meanwhile, the markets will await the outcome of the Federal Reserve s meeting, due today. The U.S. central bank is expected to maintain status quo on policy rates and repeat its dovish stance and provide further guidance on its bond buyback plan.
Crude Oil - Jan 27, 2021 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading with modest gains this Wednesday morning and early afternoon trade in Asia supported by bullish U.S. crude stockpiles data from API.
Prices also found support after China reported its lowest daily rise in COVID-19 cases, bolstering hopes of a pick-up in demand.
Today, investors will await cues from inventory data from EIA.
In the short term, markets will be in a wait and watch mode as investors will be wanting to consider the trajectory of the second wave in China and its impact on the economy.