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Indices Remains Sluggish Amid Global Cues, Oil Prices Retreated Down & Steady US Dollar Index

By Research Team Tuesday, Oct 19, 2021
USD/CHF

    • 9.30am ISTD1
    • High0.92391
    • Low0.92058
    • Close0.92082

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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Daily Outlook

USD/CHF

Intra Day
Near Day

Technical Levels

R3 0.93444
R2 0.92944
R1 0.92658
Turnaround 0.92444
S1 0.92158
S2 0.91944
S3 0.91444
By Research Team Tuesday, Oct 19, 2021
COPPER

    • 10.10am ISTD1
    • High10456
    • Low10204
    • Close10258

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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Daily Outlook

COPPER

Intra Day
Near Day

Technical Levels

R3 10810.00000
R2 10558.00000
R1 10408.00000
Turnaround 10306.00000
S1 10156.00000
S2 10054.00000
S3 9802.00000
By Research Team Tuesday, Oct 19, 2021
INDIA50

    • 9.48am ISTD1
    • High18584
    • Low18413
    • Close18455

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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Daily Outlook

INDIA50

Intra Day
Near Day

Technical Levels

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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