USD/CHF is trading at 0.92139, 0.03% up since Monday. The Swiss Franc strengthened against the mixed USD as market remains cautious over rate hike & stimulus tapering decision from next Fed meeting which is to be concluded on November 3. Earlier, the currencies depreciated as inflation worries looms across the globe amid surging energy prices. The Swiss nations PPI rate grew by just 0.2% lower than previous figure 0.7% & the market will be eyeing Trade Balance data release today. As seen in the chart, the pair is trading near lower trend-line of the channel pattern which indicates the chances of reversal if sustained or a breakdown if breached. However, slight buying bias may be recommended in CHF against the USD for the day.
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Near Day |
R3 | 0.93444 |
R2 | 0.92944 |
R1 | 0.92658 |
Turnaround | 0.92444 |
S1 | 0.92158 |
S2 | 0.91944 |
S3 | 0.91444 |
Copper is trading at $10258, 0.02% down since previous day close. The slight profit-booking can be seen in Copper prices after rallying to multi-months high of 10000 levels on Monday. The rising consumption demand amid global recovery from Covid-19 situation makes the commodities more expensive. Also, the mixed USD on account of uncertain Fed rate hike decision & suspicious stimulus tapering down talks in the next meeting cushioned the base metals. The stock level of Copper fell at LME which further pushed up the prices. As seen in the chart, the Copper is trading near previous highs which act as a major resistance level & hence, buying on lower levels may be recommended for the day.
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Near Day |
R3 | 10810.00000 |
R2 | 10558.00000 |
R1 | 10408.00000 |
Turnaround | 10306.00000 |
S1 | 10156.00000 |
S2 | 10054.00000 |
S3 | 9802.00000 |
INDIA50 is trading at 18560, 0.26% up since previous day close. A sharp rally can be seen in SGX Nifty in the midst of strong global and regional cues. The U.S tech shares rallied amid positive earnings results & new product launch from Apple Inc. Also, the growth & recovery in India’s PSU Banking sector & Infrastructural sector remained widely supportive for INDIA50. Besides this, the rise in global growth as Covid-19 situation improvises remains bullish for major indices on long run. As seen in the chart, the index is strongly trading within the bullish channel pattern & also, the RSI line is moving on higher side which signals further upside. Buying on corrective dips may be recommended for the day in INDIA50 on the daily basis.
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Near Day |
R3 | 18743.00000 |
R2 | 18614.00000 |
R1 | 18557.00000 |
Turnaround | 18485.00000 |
S1 | 18428.00000 |
S2 | 18359.00000 |
S3 | 18227.00000 |
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