Enrich Money

SL

BUY BANKNIFTY 57800 CE 25 AUG ABV 800 SL 750 TRGT 850/900 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Target 120 done ✅

COMEX Gold maintains a cautiously positive bias while continuing to trade in a broad consolidation range. Immediate support is at $4,090-4,070, with next support at $4,000-3,980, the key psychological base. On the upside, immediate resistance is at $4,160-4,180, and a break above targets next resistance at $4,220-4,240. Overall, bias stays cautiously optimistic, with a hold needed to sustain the recovery toward $4,180; a break below risks a slide back toward $4,000. MCX Gold MCX Gold opened on a steady note, up 0.27% on the day, extending the recovery seen over the past few sessions. Immediate support is at ₹143,300-143,000, with next support at ₹142,300-142,000. On the upside, immediate resistance is at ₹144,000-144,300, and a break above targets next resistance at ₹145,300-145,700. Overall, bias stays cautiously positive, with a sustained move needed to clear ₹144,300 and open the path toward higher levels; a slip below ₹143,000 would weaken the recovery. COMEX Silver COMEX Silver opened on a steady note but has pulled back toward the $58.300 mark. The daily chart shows price consolidating in a choppy range after finding support near $57.500, with sellers stepping in around the $59.500 mark. Immediate support remains $57.500-57.000, with next support at $55.500-55.000. On the upside, immediate resistance is at $59.000-59.500, and a break above targets next resistance at $60.500-61.000. Overall, bias stays constructive, with a hold above $58.000 needed to keep the recovery intact; a break below risks a slide back toward $57.000. MCX Silver MCX Silver opened on a steady note and is holding above ₹218,600, up 0.51% on the day. Immediate support is at ₹216,000-215,000, with next support at ₹212,000. On the upside, immediate resistance is at ₹219,500-220,500, and a break above targets next resistance at ₹222,000-222,700. Overall, bias stays cautiously positive, with a hold above ₹218,000 needed to keep the recovery intact; a break below risks a slide back toward ₹215,000. MCX Crude Oil MCX Crude Oil opened with a sharp gap-down to trade near the ₹7,640 zone, decisively breaking below ₹8,000 and erasing much of last week's recovery. Immediate resistance is placed at ₹7,690–₹7,720; a sustained move above this could rebuild momentum toward ₹7,800–₹7,850. On the downside, ₹7,580–₹7,500 acts as immediate support; a break below could extend the decline toward ₹7,430–₹7,350, with a stronger base near ₹7,250. RSI has slipped below its signal line while MACD momentum fades toward a bearish crossover, keeping the bias bearish, and a decisive break below ₹7,500, near the previous week's low, would open room for further downside. US WTI Oil US WTI Oil opened with a sharp gap-down to near $80, erasing much of last week's recovery. Immediate resistance is placed at $80.60–$81.5; a sustained move above this could rebuild momentum toward $82–$83. On the downside, $79.5–$79 acts as immediate support; a break below could extend the decline toward $78.6–$78, with a stronger base near $76. RSI has rolled over below its signal line while MACD momentum fades toward a bearish crossover, keeping the bias bearish, and a decisive break below the previous week's low near $78 could open room for further downside. USD/INR The Indian rupee strengthened further against the U.S. dollar, with USD/INR slipping to the ₹95.1 zone after breaking decisively below its long-term ascending trendline, reinforcing the currency's near-term positive momentum. Immediate support for the rupee is seen in the ₹95.1–₹94.95 range; a sustained move below this level could pave the way for further appreciation toward ₹94.7, with a stronger support base emerging near ₹94.3. On the upside, the ₹95.2–₹95.3 zone is expected to act as immediate resistance, and a move above it could see the pair rebound toward ₹95.4–₹95.5. Technical indicators remain supportive of the rupee, with the MACD continuing to signal bearish momentum for USD/INR. A decisive close below the ₹95 mark would further reinforce the outlook for continued rupee appreciation.

Equity, Commodities & INR Market Opening Outlook from Ponmudi R, CEO of Enrich Money, outlining the key market trends observed at the opening bell. Indian equity markets opened sharply higher, tracking an improvement in global risk sentiment after U.S. President Donald Trump said negotiations with Tehran are set to resume on Monday, raising hopes of a diplomatic breakthrough and easing concerns over a broader regional conflict. The shift in sentiment triggered a sharp decline in crude oil prices, with WTI crude retreating to the $79–80 per barrel range, providing a supportive backdrop for oil-importing economies such as India while also lending support to the rupee. The currency extended its gains in early trade and is currently hovering near the ₹95.1 mark against the U.S. dollar, aided by lower energy prices and improving risk appetite. On the domestic front, investor attention is now turning to the Reserve Bank of India's upcoming Monetary Policy Committee (MPC) meeting. Interest rate-sensitive sectors are likely to remain in focus as market participants look for signals on the policy rate, inflation trajectory, liquidity conditions, and the central bank's assessment of the economic outlook. The policy guidance is expected to play a key role in shaping market expectations and near-term trading sentiment. Technical view Nifty 50 Nifty 50 opened with a sharp gap-up near the 24,573 mark, decisively breaking above the crucial 24,400 resistance zone, which also coincided with the 200-day Exponential Moving Average (EMA). The breakout reflects a significant improvement in market sentiment and strengthens the ongoing recovery. From a technical perspective, the 24,600 level now emerges as the immediate resistance, a zone that has consistently capped the index since April. A decisive and sustained move above 24,600 would reinforce bullish momentum and could pave the way for an advance towards the 24,800–25,000 region. On the downside, the 24,400 level is now expected to act as the immediate support after successfully transitioning from resistance. Holding above this level will be crucial to preserve the prevailing bullish structure. However, a decisive break below 24,400 could trigger profit booking and drag the index towards the 24,300–24,200 support zone. Momentum indicators have strengthened considerably. The Relative Strength Index (RSI) has moved comfortably above the neutral zone and is currently hovering near the 63 mark, indicating improving bullish momentum while still remaining below overbought territory. Overall, the near-term technical outlook has turned strongly positive. Bank Nifty Bank Nifty opened with a sharp gap-up near the 57,628 mark, decisively breaking above its recent trading range in line with the broader market. The index is now trading comfortably above its 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), reflecting a significant improvement in the overall technical structure. From a technical perspective, the 57,800–58,000 zone is expected to act as the immediate and crucial resistance band. A sustained breakout above this region would reinforce bullish momentum and could pave the way for a stronger advance in the sessions ahead. On the downside, the 57,400–57,300 zone is likely to provide immediate support after transitioning from a previous resistance area. Holding above this band will be essential to preserve the prevailing bullish structure. However, a decisive break below 57,300 could trigger profit booking and drag the index towards the 57,000 psychological support level. Momentum indicators have improved meaningfully. The Relative Strength Index (RSI) has registered a bullish crossover and is currently hovering in the mid-50s, indicating strengthening momentum while leaving room for further upside. Overall, the near-term technical outlook has turned positive. COMEX Gold

Due to slow momentum Safe traders can book profit above 110 or Modify SL to Cost

BUY NIFTY 24500 CE 4 AUG ABV 100 SL 80 TRGT 120/140 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Morning Market Outlook by Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm. Indian equity markets are poised for a cautiously positive start, with investor sentiment improving after U.S. President Donald Trump indicated that negotiations with Iran are expected to resume on Monday, reviving hopes of a diplomatic resolution following recent military tensions. Reflecting improved risk appetite, GIFT Nifty is indicating a gap-up opening at around 24,580, nearly 200 points above the previous close, signalling that the recent recovery in domestic equities could continue in today's session. Global risk sentiment has also been supported by a sharp correction in crude oil prices as easing geopolitical concerns prompted investors to unwind the recent risk premium. WTI crude is currently trading around the $80–81 per barrel mark, nearly 6% below its recent highs, offering relief for India's inflation outlook, import bill, and corporate input costs. Gold prices continue to hold firm, reflecting some residual demand for safe-haven assets, although the prospect of renewed diplomatic engagement has tempered concerns over a further escalation in geopolitical risks. However, the global backdrop remains mixed. Most Asian equity markets are trading lower in early trade, with Japan's Nikkei 225 falling more than 2% and South Korea's Kospi declining over 3%, as investors remain cautious despite the pullback in oil prices. Against this backdrop, domestic markets are likely to take cues from global developments, crude oil prices, and institutional flows while attempting to build on the recent rebound. Technical View Nifty 50 Nifty 50 continues to hold above the 24,300 mark, indicating sustained buying interest and an improving near-term technical structure.The immediate resistance is placed at 24,400, which also coincides with the 200-day Exponential Moving Average (EMA). A decisive breakout above this level could accelerate buying momentum and open the path towards 24,500–24,600. On the downside, 24,300 remains the first support, followed by 24,200. Holding above these levels will be crucial to sustain the ongoing recovery. However, a break below 24,200 could trigger fresh profit booking and drag the index towards the 24,000 psychological support.Overall, the near-term outlook remains constructively bullish, with 24,400 acting as the key breakout level to watch. Bank Nifty Bank Nifty is also expected to trade with a cautious positive bias after recovering alongside the broader market. The immediate resistance is placed in the 57,300–57,400 zone. A sustained breakout above this range could extend the rally towards 57,800–58,000. On the downside, 56,800–56,700 remains the immediate support, followed by the 56,400–56,300 region, which is also aligned with the 100-day EMA. A break below 56,700 may revive selling pressure, while holding above these levels will keep the near-term recovery intact. Overall, Bank Nifty continues to maintain a cautiously positive technical outlook, with traders closely watching the 57,400 breakout for further upside confirmation.

On the downside, immediate support lies at ₹2,15,000–₹2,14,000, with the next support at ₹2,12,000, coinciding with the 50-week EMA; a break below ₹2,12,000 would expose deeper downside and weaken the medium-term structure toward ₹2,10,000. Overall, with price losing short-term momentum, the bias stays cautious-to-range-bound, with a decisive move above immediate resistance needed to shift sentiment back in favour of buyers. NYMEX Crude Oil NYMEX Crude Oil snapped its bullish run this week, sliding to a low near $78 before recovering off support to close near $84.70. Immediate resistance stands at $86–$87; a sustained move above this could extend prices toward $88–$89, with $90 in focus if momentum builds. On the downside, $83.30–$82 acts as immediate support; a break below could ease momentum toward $80.60, with a stronger base near $78. The weekly candle formed a hanging man, pointing to fading upside momentum, though a lower close in the coming sessions is needed to confirm the reversal. MCX Crude Oil MCX Crude Oil snapped its bullish run this week, sliding to a low near ₹7,500 before recovering off support to close near ₹8,100. Immediate resistance stands at ₹8,250–₹8,350; a sustained move above this could extend prices toward ₹8,450–₹8,500, with ₹8,600 in focus if momentum builds. On the downside, ₹8,000–₹7,900 acts as immediate support; a break below could ease momentum toward ₹7,800, with a stronger base near ₹7,600. The weekly candle formed a hanging man, pointing to fading upside momentum, though a lower close in the coming sessions is needed to confirm the reversal. MCX Natural Gas MCX Natural Gas extended its downside this week, sliding to a low near ₹254 before recovering to settle near ₹263. Immediate resistance stands at ₹266–₹268; a sustained move above could rebuild momentum toward ₹270–₹273. On the downside, ₹260–₹258 acts as immediate support, with a decisive break below ₹254 exposing ₹250–₹248 if the decline extends. The week's sharp bearish candle keeps the bias lower, though RSI nearing oversold and fading MACD momentum hint at a possible pause. A break below ₹254 would confirm further downside. USD/INR The Indian rupee strengthened sharply this week, settling near the ₹95.35 level against the U.S. dollar after recovering from the week's lows around ₹96.55. The currency closed near the lower end of the USD/INR pair's long-term trendline, reflecting improving momentum in favour of the rupee. From a technical perspective, the ₹95.55–₹95.65 zone remains the immediate resistance for the USD/INR pair. A sustained move above this range could cap the rupee's recent appreciation and push the pair towards ₹95.80, bringing the ₹96 mark back into focus. On the downside, the ₹95.25–₹95.10 zone serves as the immediate support for the pair, while a decisive break below could pave the way for further rupee strength towards the ₹94.70 region. The formation of a strong bearish Marubozu on the weekly chart suggests that the near-term bias continues to favour the rupee, supported by easing U.S. dollar demand and improving domestic fundamentals. However, the currency's trajectory will remain sensitive to crude oil prices, geopolitical developments and broader global risk sentiment.

Investors will also closely monitor upcoming U.S. inflation and labour market data, Federal Reserve commentary, Treasury yield movements and the U.S. Dollar Index for fresh clues on the interest-rate outlook. Domestically, the Reserve Bank of India's policy decision will be another key event, particularly for its implications for the rupee and imported inflation. While elevated geopolitical risks and supply concerns are likely to keep crude oil well supported, a firm U.S. dollar and higher bond yields could continue to limit the upside in precious metals. Overall, volatility is expected to remain elevated across the commodity complex as investors navigate an uncertain geopolitical and macroeconomic environment. Technical Outlook COMEX Gold COMEX Gold enters the new trading week at $4,098, up marginally (+0.89%) on the weekly close, but the broader structure remains under pressure with price trading below its 20-week and 50-week EMAs. Immediate resistance is placed at $4,160.0–$4,180.4, followed by the next resistance zone at $4,220.0–$4,240.0; a sustained weekly close above $4,240 would be needed to stabilise the trend and open room for a deeper recovery. On the downside, immediate support lies at $4,090–$4,070, with the next support at the $4,000 psychological mark; a break below $4,000 would expose the metal to a retest of the $3,900.0–$3,920.0 zone. The daily chart shows price attempting to hold above its 20-day EMA, but with price still capped below the 50/100/200-day EMAs (all above $4,200), the path of least resistance stays sideways-to-lower unless $4,240 is reclaimed decisively. MCX Gold MCX Gold October futures enter the new trading week at ₹1,43,376,. While the contract continues to exhibit a mildly positive bias, it remains well below its 20-week and 50-week exponential moving averages (EMAs). Meanwhile, the weekly RSI remains largely flat, indicating subdued momentum and suggesting that the near-term outlook remains cautious. Immediate resistance is placed at ₹1,44,000–₹1,44,300, followed by the next resistance zone at ₹1,45,300–₹1,45,700; a sustained close above ₹1,45,700 would be needed to shift the medium-term bias back in favour of buyers. On the downside, immediate support lies at ₹1,43,000–₹1,43,300, with the next support at ₹1,42,000–₹1,42,300; a break below ₹1,42,000 would expose deeper downside toward ₹1,40,000. The daily chart shows price holding above its rising 200-day EMA, suggesting stabilisation after the recent decline but with price still capped below the 50/100-day EMAs, a decisive move above ₹1,44,300 is needed to confirm a shift toward a more sustained recovery. COMEX Silver COMEX Silver enters the new trading week at $57.785, down -1.90% on the weekly close after slipping from the $60.4 mark, with the weekly RSI edging lower, signalling weakening momentum. Price also remains below both its 20-week and 50-week EMAs, confirming the broader corrective structure is still intact. Immediate resistance is placed at $59.00–$59.50, followed by the next resistance zone at $60.50–$61.00; a sustained weekly close above $61.00 would be needed to stabilise the trend and shift the near-term bias back toward buyers. On the downside, immediate support lies at $57.50–$57.00, marking this week's low, with the next support at $55.50–$55.00. Overall, with price trading below its short and medium-term EMAs and RSI edging lower, the path of least resistance stays tilted to the downside unless $59.50–$60.50 is reclaimed decisively. MCX Silver MCX Silver enters the new trading week at ₹2,17,198, down sharply (-2.22%) on the weekly close, with the weekly RSI easing, reflecting fading momentum and a cautious tone heading into the new week. Price is trading below its 20-week EMA but continues to hold above the rising 50-week EMA, keeping the broader medium-term structure intact for now. Immediate resistance is placed at ₹2,18,000–₹2,19,000, followed by the next resistance zone at ₹2,21,000–₹2,22,000; a sustained close above ₹2,22,000 would be needed to revive the recovery attempt.

Weekly Outlook on Gold, Silver & USD/INR by Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealthtech firm. Weekly Wrap: Energy, Rates and Geopolitics Take Centre Stage Commodity markets had a turbulent week as the U.S.-Iran conflict lurched repeatedly between de-escalation and renewed hostilities, driving sharp swings in oil prices, while the Federal Reserve's decision to hold interest rates steady on Wednesday allowed gold to hold firm even as the central bank maintained a relatively hawkish tone. The Indian rupee also staged a notable rally against the U.S. dollar, reversing the weakness seen in recent weeks. Oil experienced one of its most volatile weeks in months, trading in a wide range as the conflict's stop-start nature repeatedly whipsawed the geopolitical risk premium. Prices fell sharply early in the week on hopes of de-escalation before rebounding mid-week as hostilities flared again, only to ease once more by Friday after Washington paused strikes overnight. Crude settled around $86 per barrel, remaining on track for a monthly gain of more than 20%. Escalating geopolitical tensions and fears of further supply disruptions kept the risk premium elevated throughout the week, reinforced by concerns over tighter global supplies and expectations of robust summer fuel demand. Supply risks remained elevated into the weekend, with reports of Iran's Revolutionary Guard turning back tankers in the Strait of Hormuz, Saudi Arabia convening 43 countries to form a maritime coalition to protect Red Sea shipping following a Houthi blockade, fresh disruption at Kazakhstan's Black Sea export terminal, and a Ukrainian strike on Russia's Volgograd refinery. The week's key macroeconomic event was the Federal Reserve's decision to leave interest rates unchanged while reiterating that future policy decisions would remain data dependent. The Fed's relatively hawkish stance, combined with a still-resilient labour market and sticky inflation expectations driven by the recent rise in oil prices, reduced expectations of near-term rate cuts and pushed the implied probability of a September rate hike to roughly 63%. Treasury yields firmed and the U.S. Dollar Index strengthened in the immediate aftermath, limiting investor appetite for precious metals even as intermittent safe-haven demand emerged in response to geopolitical developments. Gold and silver remained volatile throughout the week, with safe-haven buying repeatedly capped by higher bond yields and a firmer U.S. dollar, which increased the opportunity cost of holding non-yielding assets. Gold rallied roughly 2% following the Fed's policy decision and extended those gains into Thursday as the dollar softened later in the week. Silver was comparatively steady, trading within a relatively narrow range, while the broader precious metals complex maintained a cautious tone as investors awaited fresh macroeconomic catalysts and greater clarity on the Federal Reserve's policy path. The Indian rupee extended its week-long rally against the U.S. dollar, with USD/INR falling to a fresh two-week low near ₹95.30 by Friday as the dollar broadly weakened later in the week. Weekly Outlook: Middle East Tensions Remain the Key Wildcard Looking ahead, commodity markets are likely to remain highly sensitive to both macroeconomic developments and geopolitical headlines. The durability of the current pause in hostilities between the United States and Iran remains the key variable for energy markets, given how quickly previous periods of de-escalation have unraveled. Any renewed military escalation or disruption to shipping through the Strait of Hormuz could reignite the geopolitical risk premium in crude oil, intensify inflation concerns and add fresh volatility across commodity markets. Conversely, a sustained ceasefire could ease pressure on energy prices, improve broader risk sentiment and provide additional support to precious metals.

Made a high of 571.80, Can book profit at this level.

BUY CRUDEOIL 8200 PE 17 AUG ABV 535 SL 485 TRGT 585/520 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Due to tight consolidation, Saeg traders exit at cost.

Safe traders can book profit at 93 or Modify SL to Cost

USD/INR The Indian rupee is trading near the ₹95.3 level against the U.S. dollar, extending its recent gains. From a technical perspective, immediate resistance for the USD/INR pair is seen in the ₹95.40–₹95.46 zone. A sustained move above this range could limit the rupee's appreciation and push the pair towards the ₹95.60–₹95.75 region. On the downside, the ₹95.25–₹95.20 zone remains the key support for the USD/INR pair. A decisive break below this area would signal further strength in the Indian rupee and could drive the pair towards the ₹95.10–₹95.00 levels. Despite the rupee's recent resilience, volatility is likely to remain elevated as investors closely monitor geopolitical developments, crude oil prices, potential RBI intervention, and broader U.S. dollar trends.

Overall, bias stays cautious, with a hold needed to sustain the recovery toward $4,180; a break below risks a slide back toward $4,000. MCX Gold MCX Gold opened with a gap up near ₹144,000 mark, up 0.58% on the day, extending the recovery seen over the past few sessions. The daily chart shows price climbing out of its recent consolidation zone. Immediate support is at ₹143,300-143,000, with next support at ₹142,300-142,000. On the upside, immediate resistance is at ₹144,000-144,300, and a break above targets next resistance at ₹145,300-145,700. Gold's firmer tone tracks the global recovery, aided by dollar weakness. Overall, bias stays constructive, with a sustained move needed to clear ₹144,300 and open the path toward higher levels; a slip below ₹143,000 would weaken the recovery. COMEX Silver COMEX Silver opened on a steady note but has pulled back to $58.600 mark, giving back part of the recovery seen in the previous session. The daily chart shows price consolidating in a choppy range after finding support near $57.000, with sellers stepping in around the $60.500 mark. Immediate support is at $57.500-57.000, with next support at $55.500-55.000. On the upside, immediate resistance is at $60.500-61.000, and a break above targets next resistance at $63.000-63.500. Silver's softer tone today mirrors the pullback in gold, with risk-off positioning and dollar dynamics weighing on the broader precious metals complex, even as the metal's longer-term case stays supported by resilient industrial demand and a structural supply deficit. Overall, bias stays cautious, with a hold above $58.000 needed to keep the recovery intact; a break below risks a slide back toward $57.000. MCX Silver MCX Silver opened at ₹218,769 and is holding above ₹219,000, consolidating after finding support near ₹214,000-215,000 on the daily timeframe. The daily chart shows price recovering in a choppy range. Immediate support is at ₹218,000-217,000, with next support at ₹215,000-214,000. On the upside, immediate resistance is at ₹221,000-222,000, and a break above targets next resistance at ₹224,000-225,000. Silver is trading softer even as gold trades firmer today, reflecting some profit-booking after recent gains and silver's greater sensitivity to industrial-demand sentiment, even as the metal's longer-term case stays supported by resilient industrial demand and a structural supply deficit. Overall, bias stays cautious, with a hold above ₹218,000 needed to keep the recovery intact; a break below risks a slide back toward ₹215,000. MCX Crude Oil MCX Crude Oil opened with a gap-down and is currently trading near the ₹7,860 mark, reflecting softer global crude prices despite continued geopolitical tensions in the Middle East. Technically, the ₹7,840–7,810 zone remains the immediate support. Holding above this region will be crucial to prevent further downside, while a decisive break below ₹7,810 could drag prices towards the ₹7,700–7,650 zone. On the upside, ₹8,000 is the immediate resistance, followed by the ₹8,080–8,150 zone. A sustained move above ₹8,000 would be required to revive bullish momentum and support a recovery towards the ₹8,150–8,200 region. Overall, the near-term outlook remains cautiously bearish, with price action likely to remain volatile as traders continue to track geopolitical developments and global crude oil trends. US WTI Oil US WTI Crude Oil has eased slightly and is currently trading near the $82.2 per barrel mark after failing to sustain above the $84 resistance zone. Technically, the $82.0–81.6 zone remains the immediate support. Holding above this range will be crucial to prevent further weakness, while a break below $81.6 could drag prices towards the $80.0 psychological level. On the upside, $84.0–84.2 remains the immediate resistance, followed by $85.4. A sustained move above $84.2 would be required to revive bullish momentum and support a recovery towards the $85.0–85.5 region. Overall, the near-term outlook remains cautious, with geopolitical developments likely to keep crude oil prices volatile.

Equity, Commodities & INR Market Opening Outlook from Ponmudi R, CEO of Enrich Money, outlining the key market trends observed at the opening bell. Indian equity markets opened on a steady note, extending their recent gains as robust corporate earnings continued to outweigh global macroeconomic concerns. The improving domestic outlook has helped trigger a temporary revival in foreign institutional inflows, providing additional support to investor sentiment. Meanwhile, the Indian rupee strengthened modestly and is trading around the ₹95.3 level against the U.S. dollar. On the geopolitical front, tensions remain elevated as the United States and Iran continue to exchange strikes, keeping geopolitical risks at the forefront of global investor attention. Despite the heightened uncertainty, crude oil prices have eased modestly and are currently trading near the $82 per barrel mark. Sectorally, the recent rally in information technology stocks has paused following a strong run over the past week, with investors locking in profits after the sharp advance. Financials have emerged as the key outperformers, rising more than 2% in early trade, while the automobile sector is also trading firmly, helping offset the temporary weakness in IT and providing broader support to the market. Overall, strong corporate earnings continue to underpin domestic sentiment, although investors remain watchful of geopolitical developments, crude oil prices and global policy signals. Technical view Nifty 50 Nifty 50 opened on a marginally positive note near the 24,361 mark, extending its recent recovery and reflecting sustained bullish sentiment in early trade. From a technical perspective, the index needs to hold above the 24,300 level and decisively break through the 24,400 resistance zone, which remains the immediate and crucial hurdle. A sustained move above this band could reinforce bullish momentum and pave the way for an advance towards the 24,500–24,600 region. On the downside, the 24,200 zone continues to act as the immediate support. Holding above this level will be crucial to preserve the prevailing recovery structure, while a decisive break below 24,200 could trigger short-term profit booking and drag the index towards the 24,000 psychological support. The RSI continues to gradually strengthen, hovering near the 60 mark, indicating improving momentum and sustained buying interest without entering overbought territory. The MACD line remains above the Signal line, confirming that positive momentum is intact. Overall, the near-term technical outlook remains positive. Bank Nifty Bank Nifty opened on a mildly positive note near the 57,127 mark, in line with the broader market sentiment. However, the index continues to face supply pressure near the 57,300–57,400 resistance zone, making this the key hurdle for the ongoing recovery. A decisive and sustained breakout above 57,400 will be essential to strengthen bullish momentum and could pave the way for an advance towards the 57,800–58,000 region. On the downside, the 56,800–56,700 zone remains the immediate support and will be crucial to monitor. Holding above this range will help preserve the current recovery structure, while a decisive break below 56,700 could accelerate selling pressure and drag the index towards the 56,400–56,300 support zone, which also coincides with the 100-day Exponential Moving Average (EMA), adding further technical significance to this level. Overall, the near-term technical outlook remains cautiously positive. COMEX Gold COMEX Gold opened at $4,163.9 and has pulled back, down 0.69% on the day, retracing part of the past week's rally. The daily chart shows price cooling off from resistance after a strong two-session bounce, now consolidating below recent highs. Immediate support is at $4,090-4,070, with next support at $4,000-3,980, the key psychological base. On the upside, immediate resistance is at $4,160-4,180, and a break above targets next resistance at $4,220-4,240. Gold's pullback comes after a strong run driven by dollar weakness.

BUY TCS 2340 CE 25 AUG AT 88 SL 76 TRGT 100/108 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

BUY SENSEX 78000 PE 06 AUG AT 430-440 SL 390 TRGT 490/530 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf