A morning walk down Dalal Street | Create long positions in Nifty only on a breakout above 11,843
Episode 1358, Jun 26, 2019, 01:30 AM
Benchmark indices snapped their 2-day losing streak and closed with handsome gains. The S&P BSE Sensex rallied by over 300 points while the Nifty50 closed just a shade below 11800 levels.
The Nifty50 took support at its 50-days EMA for the 7th consecutive day in a row only to bounce back towards 11800 levels
The market is likely to remain volatile ahead of the F&O expiry on June 27, as well as Budget on July 5, suggest experts. In terms of global cues, G20 summit, likely to be held on June 28-29 will be closely watched by experts to track the progress of US-China trade talks.
Amid weakness in the US Dollar and lingering fears of trade wars has fuelled appetite for safe-haven assets such as Gold. The yellow metal has emerged as clear winner scaling to multi-year highs, amidst flurry of geo-political events and likelihood of feeble global economy, suggest experts.
The Indian rupee pared initial gains and ended almost flat at 69.36 against the US dollar on June 25 as simmering geopolitical tensions in the Middle East dampened forex market sentiment.