Sensex Drops 942 Points; Nifty Ends Below 24fxcue.com

(fxcue news) - Indian shares tumbled on Monday, as heightened tensions in the Middle East along with anxiety ahead of this week's U.S. presidential election and the Federal Reserve's interest-rate decision dented investors' appetite for risk. Oil prices were up nearly 3 percent in European trade after OPEC+ agreed to push back its December production increase by at least a month, prioritizing price support over regaining market share. There is some concern that rising crude prices could further stoke inflationary pressures and inflate India's import bill. The benchmark S&P/BSE Sensex fell 941.88 points, or 1.18 percent, to 78,782.24, after having ended Samvat 2081's first trading session, called Muhurat Trading, on a positive note on Friday. The broader NSE Nifty index ended down 309 points, or 1.27 percent, at 23,995.35 amid across-the-board selling. The Sensex hit a low of 78,232.60 in early trade and the Nifty dipped to 23,816.15 in intraday trade on the back of unbated selling by foreign portfolio investors. Among the prominent decliners, BPCL, Adani Ports, Bajaj Auto, Grasim and Hero MotoCorp lost 3-4 percent.

Sensex Drops 942 Points; Nifty Ends Below 24

Sensex Drops 942 Points; Nifty Ends Below 24

Crude oil prices rise by over 3%, OPEC+delays production increase due to demand concerns

COT report: Traders turn to net short yen

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Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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Sensex Drops 942 Points; Nifty Ends Below 24

Sensex Drops 942 Points; Nifty Ends Below 24

Crude oil prices rise by over 3%, OPEC+delays production increase due to demand concerns

COT report: Traders turn to net short yen

Please sign in

Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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