Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead
The MCX Gold futures are likely to face resistance around Rs 51,135, above which the up move may still be capped at Rs 52,570. Silver futures have failed to sustain above the 200-DMA since late April.
Raymond zoomed 3 per cent on Friday to hit an all-time high of Rs 1,329.90, after having gained 7 per cent in the previous session.
On the downside, the MCX Crude Oil futures have near support at Rs 7,205 and Rs 7,027 levels. Meanwhile, if Natural Gas futures sustain above Rs 492, they can rally past the Rs 535-level.
The MCX Gold futures may seek support around Rs 50,075 this week, whereas Silver futures if sustain above Rs 58,150, can potentially rally towards Rs 60,870-level.
On the downside, the MCX Crude Oil futures have near support at Rs 7,111 and Rs 7,039 levels. Meanwhile, Natural Gas futures likely to get considerable support around Rs 486.
If the Nifty small-cap index manages to leap over the 200-day moving average (DMA), this would trigger a positive sentiment in most of the small-cap stocks
The MCX Silver December futures may re-test the 200-DMA hurdle placed at Rs 60,900 in the near term.
Among prominent stocks, ITC, Dixon Technologies, Axis Bank and Bajaj Finance seem poised to rally up to 14 per cent; whereas Asian Paints is seen testing the crucial 200-DMA level at Rs 3,131.
On the upside, the MCX Crude Oil futures are likely to face resistance around Rs 7,070 and Rs 7,220. Natural Gas futures face resistance at Rs 485, above which it may pullback towards its 200-DMA.
The MCX Crude Oil futures are likely to trade in a broad range of Rs 6,900 - Rs 7,770 in the near term. Natural Gas futures can pullback to Rs 580, is support at Rs 520 is sustained.
The MCX Silver futures were seen testing the 200-DMA after a gap of almost six months and could move to Rs 63,900-level in the near term.
The pullback in MCX Crude Oil futures is aided by cut in oil production by OPEC+ members. The commodity crossed its 50-DMA for the first time since July 2022.
On the downside, near support for Gold futures seen at Rs 49,860, below which re-test of Rs 48,900-level seems likely; Silver futures face an uphill task of conquering multiple hurdles on the upside.
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The MCX Crude Oil October futures are likely to test major support of 100-WMA around the Rs 5,900-level. Whereas, for the week, Rs 530-level is the key support for Natural Gas futures.
The 48,900-level is the 100-WMA for MCX Gold October futures, below which the next support stands around Rs 44,500 - 200-WMA. Momentum oscillators indicate a mixed outlook for MCX Silver f
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The MCX Crude Oil October futures may see a directional move on breakout from the Rs 6,550-6,900 trading range so far this week. Short-term trend for Natural Gas futures may soon turn negative.
The underlying trend for the benchmark indices continues to be bullish given that the Sensex and the Nifty50 indices honor 59,000 and 17,700 levels, respectively