Enrich Money

BUY GOLDM FUTURES 05 AUG ABV 147,000 SL 146,000 TRGT 148,000 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Market Outlook by Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm. Indian equity markets extended gains as a favourable global backdrop continued to support investor sentiment. Lower crude oil prices, driven by easing geopolitical tensions in the Middle East, improved the outlook for India's economy, while softer-than-expected U.S. labour market data reduced expectations of near-term monetary tightening by the Federal Reserve, encouraging broader risk-taking across financial markets. Energy markets continued to stabilize as encouraging developments in Middle East diplomacy and easing concerns over disruptions to shipping through the Strait of Hormuz helped temper fears of a prolonged energy supply shock. Crude oil prices have retreated close to their pre-conflict levels, while market volatility has eased considerably. Brent crude traded near the $68 per barrel mark in international markets, with domestic crude hovering around ₹6,500. Technical Views Nifty 50 Nifty 50 ended the session on a positive note for the third consecutive session. After opening with a strong gap-up and touching an intraday high of 24,378, the index failed to sustain its early gains and spent most of the session consolidating within the 24,300–24,370 range before witnessing mild profit booking in the latter half of the day. Despite the intraday weakness, the index managed to close above the 24,200 mark, indicating that the broader recovery trend remains intact. From a technical perspective, the 24,400 level remains the immediate resistance. A sustained breakout above this zone could reinforce bullish momentum and pave the way for an advance towards the 24,500–24,600 region. On the downside, the 24,200 level is expected to provide immediate support, followed by the 24,000 psychological mark, which remains a crucial support zone. Holding above these levels will be essential to preserve the prevailing bullish structure and support the continuation of the ongoing recovery. Momentum indicators remain constructive, with the Relative Strength Index (RSI) rising to around 61, reflecting improving buying momentum while still remaining below overbought territory. Overall, the near-term technical outlook remains cautiously positive, although the mild profit booking near the resistance zone suggests the index may witness some consolidation before attempting a fresh breakout above 24,400. Bank Nifty Bank Nifty ended the session on a cautious to mildly negative note. After opening on a steady footing, the index witnessed a sharp initial rally toward the 58,300 mark but failed to sustain at higher levels. Profit booking emerged soon after, dragging the index lower for most of the session. Although buying interest around the 57,850–57,800 zone helped the index recover from its intraday lows, the recovery remained limited, with the index only recovering marginally toward the close. On the upside, the 58,000 psychological mark remains the immediate hurdle, while the 58,200–58,300 zone continues to act as the key resistance. A sustained move above this region could strengthen bullish momentum and extend the recovery toward the 58,600–58,700 zone. On the downside, the 57,600–57,500 zone remains the immediate support area. A decisive break below this region could weaken the near-term structure and expose the index to the 57,200–57,000 support zone. Overall, the near-term outlook remains cautious, as the broader structure remains intact. However, a sustained move above the 58,000 resistance zone and a decisive breakout above the key resistance levels are required to confirm the next leg of the uptrend.

Safe traders modify SL to Cost

Both targets done 170+ ✅

BUY NIFTY 24350 PE 07 JUL AT 130-135 SL 110 TRGT 160/180 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Target 460+ done (+20%) ✅

On the downside, the previous resistance zone of ₹1,47,000–₹1,46,500 is expected to act as immediate support, with further weakness extending toward ₹1,45,500–₹1,45,000 if this level is breached. Overall, the near-term outlook remains bullish, with prices needing to sustain above ₹1,48,000 to reinforce the recovery and support further upside momentum. COMEX Silver COMEX Silver is trading with a bullish bias, holding firmly above the $62 mark and reflecting strengthening price action. Immediate resistance is placed at the $63.5–$64 zone, and a sustained move above this range could strengthen momentum and extend the rally toward the $65–$65.5 area. On the downside, the $61.5–$61 zone is expected to act as immediate support, while a break below this level could trigger profit booking and drag prices toward the $60–$59.5 support region. Overall, the near-term outlook remains bullish, with prices needing to sustain above $62 and break above the immediate resistance zone to reinforce the uptrend and confirm stronger upward momentum. MCX Silver MCX Silver opened with a gap up and is trading with a bullish undertone near the ₹2,38,000 mark after successfully sustaining above key resistance levels. A sustained move above the ₹2,38,000–₹2,40,000 resistance zone could strengthen momentum and extend the rally toward the ₹2,44,000–₹2,46,000 range. On the downside, the ₹2,35,000–₹2,34,000 zone is expected to act as immediate support, while a break below this level could drag prices toward the ₹2,31,000–₹2,30,000 support zone. Overall, the near-term outlook remains bullish, with prices needing to break above ₹2,40,000 mark to reinforce the uptrend and confirm stronger upward momentum. MCX Crude Oil MCX Crude Oil opened with a mild gap-up above ₹6,550, attempting to stabilize from lows near ₹6,420 after extending bearish momentum. MACD indicates slowing bearish momentum, with RSI hovering near oversold zones, suggesting easing near-term pressure. Immediate resistance stands at ₹6,600–₹6,700; a sustained break above this band could trigger a recovery toward ₹6,760–₹6,850. On the downside, ₹6,520–₹6,470 acts as immediate support; a break below this level could extend the decline toward ₹6,420–₹6,380. The near-term bias remains cautiously bearish, with volatility contingent on Middle East and Strait of Hormuz developments. US Oil US Oil opened nearly flat and continues to trade near the $69 zone after a rejection from lows near $67, putting pressure on the bearish momentum as indicated by MACD, which shows slowing bearish momentum, and RSI hovering near oversold zones. Immediate resistance stands at $70.7–$71.5; a sustained break above this band could push prices toward $72.2–$73.8. On the downside, $67–$68 acts as immediate support; a break below could expose the $65 zone should selling momentum extend further. The near-term bias remains cautious, driven by ongoing developments around the Middle East and Strait of Hormuz. USD/INR USD/INR is trading above the ₹95.1 zone, extending bullish momentum after facing rejection from lows near ₹94.3, which acts as strong long-term support. Immediate resistance stands at ₹95.3–₹95.4 near the previous high; a sustained move above this level could push depreciation above the ₹95.5 level. On the downside, ₹94.75–₹94.8 acts as immediate support, and a breakdown is required to build bearish momentum to push prices toward ₹94.6–₹94.65. The near-term bias remains cautious, driven by the current geopolitical backdrop and dollar demand dynamics.

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 with a strong gap-up, extending their monthly gains as improving global sentiment supported investor confidence. The rally is driven by a sharp decline in crude oil prices, rebound in information technology (IT) stocks, and growing expectations that the U.S. Federal Reserve may adopt a less aggressive stance on interest rates following weaker-than-expected U.S. economic data. Crude oil prices continue to remain subdued, currently trading in the $68-69 per barrel range. Meanwhile, gold prices edged higher towards the $4,200 mark after weaker U.S. jobs data strengthened expectations of a softer Federal Reserve policy outlook, increasing demand for safe-haven assets. The Indian Rupee continues to consolidate near its recent low around the 95.2-95.3 zoneagainst the U.S. Dollar. Technical view Nifty 50 Nifty 50 opened with a strong gap-up near the 24,378 mark, decisively breaking above the previous month's trading range and extending its bullish momentum. From a technical perspective, the 24,400 region now emerges as the immediate resistance zone. A sustained move above this level would reinforce bullish momentum and could pave the way for an advance towards the 24,500–24,600 region, which remains the next significant upside target. On the downside, the 24,200–24,100 region is expected to act as the immediate support zone. This area coincides with the previous closing range and represents a change of polarity, where the earlier resistance is now likely to provide support. Below this, the 24,000 psychological mark remains a crucial support level. Overall, the near-term technical outlook remains firmly bullish. The decisive breakout above the previous month's trading range signals strengthening buying momentum and suggests that the broader uptrend is likely to remain intact. Bank Nifty Bank Nifty opened with a strong gap-up near the 58,296 mark, reflecting positive sentiment in line with the broader market. However, the index encountered immediate selling pressure near the 58,300 zone, which continues to act as a crucial resistance zone. A sustained breakout above this band would reinforce bullish momentum and could pave the way for an advance towards the 58,600–58,700 region. On the downside, the 58,000 psychological mark is expected to provide immediate support. However, a decisive break below 58,000 could trigger profit booking and drag the index towards the 57,600–57,500 support zone. Overall, the near-term technical outlook remains cautiously positive. While the gap-up opening reflects improving sentiment, a sustained move above the 58,200–58,300 resistance zone will be essential to confirm stronger bullish momentum and support the continuation of the ongoing recovery. COMEX Gold COMEX Gold is trading with a positive bias near the $4,200–$4,240 resistance zone, reflecting improving momentum following the recent recovery. A sustained move above this zone could strengthen buying interest and extend the rally toward the $4,320–$4,340 resistance area, with further gains toward the $4,380–$4,400 zone. On the downside, the $4,120–$4,000 region, which previously acted as resistance, is now expected to provide immediate support. A break below this zone could weaken momentum and drag prices toward $4,050 and further back to the $4,000 mark. Overall, the near-term outlook remains bullish, with prices needing to sustain above current levels and break decisively above the immediate resistance zone to reinforce the recovery and confirm stronger upward momentum. MCX Gold MCX Gold opened with a gap up and is trading with a bullish undertone near the ₹1,48,000 mark. A sustained move above ₹1,48,000 could extend the rally toward the ₹1,49,000–₹1,49,500 resistance zone, while a breakout above this area could strengthen momentum and push prices toward ₹1,50,600–₹1,51,000.

Due to low momentum, safe traders can book profits at CMP

Safe traders can Modify SL to cost

BUY NIFTY 24400 PE 07 JUL AT 120-125 SL 100 TRGT 150/170 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 expected to trade on a stable note, supported by lower crude oil prices and improving global risk sentiment. Continued progress in the U.S.–Iran negotiations has strengthened hopes of a diplomatic resolution, easing concerns over energy supply disruptions and providing support to risk assets. Meanwhile, softer-than-expected U.S. jobs data has tempered expectations of near-term monetary tightening by the Federal Reserve, offering an additional boost to investor sentiment. Nevertheless, caution is likely to prevail at higher levels as markets await greater clarity on the outcome of the negotiations, with geopolitical developments expected to remain the key near-term catalyst. Crude oil prices continue to provide a favourable backdrop for Indian equities. After recently falling to a low near $67 per barrel, crude is currently trading in the $68–69 range. The sustained softness in energy prices supports India's macroeconomic outlook by easing external sector pressures, moderating inflation risks and reinforcing overall investor sentiment. Meanwhile, foreign institutional investors (FIIs) have remained net sellers, reflecting a cautious approach amid evolving global developments. However, continued buying by domestic institutional investors (DIIs) has helped absorb the impact of overseas outflows, providing stability to the market and underpinning the resilience of domestic equities. Technical view Nifty 50 Nifty 50 continues to exhibit a constructive technical structure after successfully reclaiming the 24,000 psychological mark, reflecting improving market sentiment and sustained buying interest. From a technical perspective, the 24,200–24,250 region remains the immediate resistance zone. A sustained breakout above this band would reinforce bullish momentum and could pave the way for an advance towards the 24,400–24,450 region, where the 200-day EMA is positioned. On the downside, the 24,000 psychological level is expected to provide immediate support, followed by the 23,900–23,800 region, which aligns closely with the 20 and 50-day EMAs. Holding above these support levels will be crucial to preserve the prevailing recovery structure and maintain the positive undertone. Overall, the near-term technical outlook remains cautiously positive. A sustained breakout above the 24,200–24,250 resistance zone will be essential to confirm stronger bullish momentum and support the continuation of the broader recovery trend. Bank Nifty Bank Nifty continues to trade with a stable technical bias, indicating that the broader uptrend remains firmly intact. From a technical perspective, the 58,200–58,300 region continues to act as the immediate resistance zone. A sustained move above this band would reinforce bullish momentum and could extend the ongoing rally towards the 58,600–58,700 resistance region. On the downside, the 58,000 psychological mark remains a crucial support level. A sustained break below this zone could trigger fresh selling pressure and drag the index towards the 57,600–57,500 support region. Overall, the near-term technical outlook remains constructive, with Bank Nifty likely to maintain its positive bias as long as it sustains above the 58,000 mark.

Safe traders can modify SL to cost

BUY NATURALGAS 310 PE 24 JUL AT 18 SL 16 TRGT 20/22 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Both targets done 180+ ✅

Target done 160+ ✅

Safe traders can book profits above 150

BUY NIFTY 24100 CE 07 JUL ABV 130 SL 105 TRGT 160/180 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf

Made a high of 138, Safe traders modify stoploss to cost

BUY NIFTY 24100 PE 07 JUL ABV 120 SL 100 TRGT 140/150 Disclaimer : https://enrichmoney.in/download/disclosures_in_research_reports.pdf