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Platinum, like gold and silver, is a precious metal but tends to be more volatile. Its unique role in industries like automotive and jewelry makes it valuable, with performance often linked to economic growth. For long-term investors, platinumβs limited supply and rising industrial demand offer strong diversification potential.
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π« Market Metrics: Weekly Roundup
β Sensex: 82,890.94 β¬οΈ
β Nifty 50: 25,356.50 β¬οΈ
β Nifty Bank: 51,938.05 β¬οΈ
β Nifty Smallcap 100: 19,505.95 β¬οΈ
β Nifty Midcap 100: 60,034.05 β¬οΈ
β¨ Market Performance Key Takeaways For The Week
πA festive week pushed the markets out of last weekβs turmoil as Nifty50 registered a significant gain of 2 percent for the week and closed way above the expected critical resistance zone at 25,350.
πThere now appears to be no immediate signs of weakness, and 25,200 serves as immediate support, while 25,000-24,970 is seen as strong support. On the higher side, 25,500-25,600 could act as resistance, followed by 25,800 being the next retracement resistance.
πMarket participants are advised to closely monitor the levels and setup their trades accordingly. They should also identify the right themes for outperformance opportunities.
πBANKNIFTY had a great run as it gained the ground lost last week and also staged a breakout from its short-term consolidation phase, closing above its prior swing highs at 51,950. The 51,400-51,300 band could now offer some immediate support, and the 52,200-52,300 zone could offer stiff resistance.
β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦
β¨ News Highlights For The Week
πAdani Group denies Hindenburg allegation that Swiss government has frozen its $310 million in bank accounts.
π TCS is working with Tata Electronics to build the first made-in-India chips.
πRBI Governor Shaktikanta Das flags concerns for banks with large commercial real estate exposure, saying they might be short-seller targets.
π RBI cancels registration of four NBFCs, accepts surrender of registration from 13 others.
πIndiaβs securities regulator SEBI considering tighter oversight on micro-cap firms going public.
ββββββββxβββββββ
Technical My Tips:
The market wrap for today is here!ππ
How was your day?π€π€
Good π
Bad π
Okay okay π
Great day β€οΈπ
Open Free Demat Account Now: https://bit.ly/tltangelone
Sources: Angel One Research | Mint | Mint | ET | ET | BS
Date: September 13, 2024
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Weekly crypto analysis: Bitcoin overview for 13 September
Bitcoin has been correcting since mid-March 2024 after a late 2023βearly 2024 rally. Price held 0.618 Fibonacci level at 55,000.00 on the weekly chart, showing a bullish mid/long-term outlook. Daily timeframe reveals price rebounding from 0.618 Fibo level 3 times, forming falling wedge pattern and turning MACD green. The price is likely heading to a 0.786 Fibonacci level at 63,300.00 with resistance at SMA200. Fed interest rate decision may impact Bitcoin's long-term prospects.
What are your thoughts on this news? Let us know in the comments!
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#Trading #Forex #WeeklyTradingCalendar #MarketUpdates #Investing
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Here is a happy friday market wrap!π₯³π€©
The market closed on a flat note, did your portfolio too?π§
Yes π
No π
Great note π
Bad note π
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The Awesome Oscillator is a powerful tool for spotting market momentum. This histogram-based indicator shows the difference between a 34-period and a 5-period simple moving average, helping traders find potential buy or sell signals with ease.
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The market wrap for today is here!ππ
How was your day?π€π€
Good π
Bad π
Okay okay π
Great day β€οΈπ
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September's gold outlook: 3 factors to watch
Gold's outlook is positive due to 3 key factors in September 2024: global monetary policy, geopolitical uncertainty, and increased demand in China and India. Central banks are expected to lower interest rates, making gold more appealing. Military conflicts and upcoming elections create instability, increasing demand for the safe-haven asset. China and India's growing demand for gold is expected to rise further.
Start using this info in your trading today. Click the link in our bio!
Will this news change your trading routine? Post your thoughts in the comments!
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