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(fxcue news) - Indian shares opened on a weak note Thursday after the U.S. Federal Reserve delivered a 25-bps rate cut as expected but revised its projections to signal just two interest rate cuts next year compared to the four previously forecast, citing stubbornly high inflation. The benchmark S&P/BSE Sensex was down 923 points, or 1.2 percent, at 79,258 in early trade as the dollar and bond yields jumped after hawkish Fed rate cut. The broader NSE Nifty index was down 250 points, or 1 percent, at 23,947. Selling was seen across the board, with Shriram Finance, Mahindra & Mahindra, Tata Steel, Asian Paints and Hindalco all falling around 2 percent. IPCA Labs rose about 1 percent after promoter Usha M Chandurkar sold a 1.6 percent stake in the company. IOL Chemicals and Pharmaceuticals jumped 5.3 percent on stock split news. Vakrangee soared almost 7 percent after it signed a pact with Canara Bank to offer banking services through its Vakrangee Kendra networks. Gulshan Polyols rallied 4 percent after it received a production-linked incentive (PLI) of Rs 2 per litre for bio-ethanol. Indowind Energy advanced 1.7 percent after announcing a rights issue.

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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

Swiss Market Ends Notably Lower

General Mills Cuts FY25 View Despite Q2 Above Market; Stock Drops

Fed Lowers Interest Rates By Quarter Point

European Economic News Preview: Bank Of England Likely To Hold Rates

European Shares Set To Drift Lower On Hawkish Tilt By Fed

U.S. GDP Unexpectedly Surges More Than Previously Estimated In Q3

Sensex

Yen Falls Against Majors

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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