Friday, November 29, 2019

EURINR : Technical View : 29.11.2019

EURINR : Technical View : 29.11.2019

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* The EURINR formed a strong green candle and rose by 0.28% during the previous trading session.

* Also, the pair has taken support of the lower Bollinger band and moved positively which signifies bullishness in the counter.

* Moreover, It has closed above the 50 Day EMA, which is positive for the counter.

* Moreover, momentum indicator Stochastic (6) has shown a positive crossover signaling strength.

* So based on the above technical structure, we expect a bullish move in EURINR towards 79.32 level.

GBPINR : Technical View : 29.11.2019

GBPINR : Technical View : 29.11.2019

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* GBPINR closed on a very bullish note rising by 0.63% during it’s last trading session.

* Moreover, on the daily timeframe the pair has bounced back from the lower Bollinger Band which suggests prices to rise in the near term.

* Moreover, the pair has taken support of its 20EMA and has begun to rise indicating bullishness.

* Also, momentum indicator Stochastic (6) has shown a fresh positive crossover which is a positive sign for the pair.

* So based on the above technical structure, we expect bullish move in GBPINR future towards 93.01 level. 

JPYINR : Technical View : 29.11.2019

JPYINR : Technical View : 29.11.2019

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* During it’s previous session JPYINR closed on a flat note and remained unchanged for the day.

* Although the pair formed a doji candle on the daily chart, the pair has still sustained below its Ichimoku Cloud, which confirms power in the hands of the bears.

* Moreover, the price has been trading below the 20*50 EMA, which confirms that prices are in downtrend.

* Additionally, the daily Heikin Ashi candle of the pair has formed a series of strong red candles, which is bearish.

* So based on the above mixed technical structure, we expect sideways to bearish move in JPYINR towards 65.50 level. 

USDINR : Technical View : 29.11.2019

USDINR : Technical View : 29.11.2019

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* The USDINR pair glittered forming a bullish engulfing candle and rose by 0.32% during the last trading session.

* Also, the pair has sustained above its Ichimoku Cloud which indicates bullish strength in the counter.

* Furthermore, momentum indicator Stochastic (6) has shown a positive crossover, which confirms control in the hands of the bulls.

* Additionally, the pair’s RSI (14) has crossed above its 50 level with positive momentum signaling price to rise in the near term.

* Hence, we expect bullish move in USDINR future towards 71.98 level.

Today's Stock News - 29.11.2019: 09.00 Am

Today's Stock News - 29.11.2019: 09.00 Am
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* ADANI GAS: The Competition Commission of India has allowed Total Holdings SAS, a wholly-owned subsidiary of French oil and gas major Total SA, to acquire 37.40% stake in the company.

* AUROBINDO PHARMA: Step-down subsidiary Auro Vaccines LLC will acquire research and
development assets from Profectus BioSciences Inc, US, for an upfront payment of $11.29 mln and earnouts upon achieving certain milestones.

* BANK OF BARODA: Edelweiss Housing Finance, a subsidiary of EDELWEISS FINANCIAL
SERVICES, and the bank have entered into an agreement for co-lending of home loans to self-employed and salaried individuals.

* BHARAT PETROLEUM CORP: Workers of the company are on a one-day strike. The strike, which started Thursday morning, will continue till this morning, it said.
- The Cabinet Committee on Economic Affairs is understood to have given its nod for additional
investment of $2.67 bln by Bharat Petro Resources, a wholly-owned subsidiary of the company, for a LNG project in Mozambique.

* CANARA BANK: SEBI has exempted the government from making an open offer to shareholders of the bank and UNION BANK OF INDIA.

* CG POWER AND INDUSTRIAL SOLUTIONS: Cancelled its royalty pact signed on Feb 13
with Avantha Holdings Ltd for using the Avantha brand.
- The board has directed the board of its Belgium business--CG Power Sytems Belgium NV--to take
protective measures to prevent it from possible bankruptcy and liquidation as it suffered from paucity of funds and closure of bank accounts.

* DEWAN HOUSING FINANCE CORP: The Bombay High Court has adjourned the hearing on the pleas filed by mutual funds against the company till Monday.

* EVEREST INDUSTRIES: HDFC Mutual Fund has sold 2.2% stake or 347,860 shares in the company at 274.98 rupees a share through a bulk deal on BSE.

* FORTIS HEALTHCARE: CARE RATINGS has withdrawn its "BBB-" and "A3" rating on the company's long-term bank facilities and short-term facilities, respectively, with credit watch with developing implications.

* FUTURE RETAIL: The Competition Commission of India has approved the acquisition of 49% stake by Amazon.com NV Investment Holdings LLC in Future Coupons, one of the promoter entities of the company.

* HATSUN AGRO PRODUCT: Jwalamukhi Investment Holdings, an investment arm of private equity firm Westbridge Capital, has sold 1.35 mln shares or 0.9% stake in the company at 587.03 rupees apiece on the National Stock Exchange.

* HDFC BANK: The board of directors of the bank has constituted a committee to identify a successor to Managing Director Aditya Puri, whose tenure ends on Oct 26.
- The bank's unsecured loan portfolio has crossed 1 trln rupees, which is nearly 14% of the bank's
advances portfolio.

* HINDALCO INDUSTRIES: Hiked the prices of its aluminium ingots, wire rods and billets by more than 1% with effect from Thursday.

* HINDUJA GLOBAL SOLUTIONS: Entered into a definitive agreement for sale of its domestic customer relationship management business to Altruist India Pvt Ltd for 400 mln rupees through a slump sale.

* ICICI SECURITIES: Had paid 2.87 mln rupees to the SEBI as settlement for a case relating to two trading accounts, which were opened with the company.

* IL&FS ENGINEERING AND CONSTRUCTION CO: The Arbitration Tribunal has awarded the
company's subsidiary Bangalore Elevated Tollway Pvt Ltd 4.92 bln rupees for its claim against National Highways Authority of India.

* IL&FS TRANSPORTATION NETWORKS: Board has approved the incorporation of a new
subsidiary. The subsidiary company will act as the sponsor of the Infrastructure Investment Trust that the company plans to set up.

* INDIABULLS HOUSING FINANCE: The Ministry of Corporate Affairs has told the Delhi High Court that loans disbursed by the company to Amricorp, Anil Dhirubhai Ambani Group, and DLF have been repaid.
- Deutsche Bank AG plans to approach SEBI and RBI challenging Bajaj Allianz Life Insurance Co's
decision to annul the sale of the company's bonds worth 2.10 bln rupees to the German lender.

* INFOSYS: Launched Infosys Governance Risk & Compliance Digital Suite to provide chatbot interface for the first line of users.

* JAYPEE INFRATECH: Lenders have asked its top suitors NBCC (INDIA) and Suraksha Realty to make a final offer by Tuesday after revising their earlier bids by removing impediments and making it more lucrative for homebuyers as well as banks.

* JET AIRWAYS (INDIA): Probe agencies investigating the books of the company suspect that entities related to its founder Naresh Goyal and his associates used thousands of bogus bills to launder around 80 bln rupees from the defunct airline into tax havens.

* KOHINOOR FOODS: The company has been declared a wilful defaulter by ORIENTAL BANK OF COMMERCE, as per guidelines issued by the Reserve Bank of India.

* LEMON TREE HOTEL: The company has opened a 101-room 'Red Fox Hotel' at Vijayawada, Andhra Pradesh.

* MAHINDRA & MAHINDRA: The US International Trade Commission said that the company's Roxor vehicle violates Fiat Chrysler Automobile US's trade dress, which are the visual touches that give a copyrighted product its unique appearance.

* NATIONAL ALUMINIUM CO: Has increased the prices of aluminium ingots by nearly 1%, effective Tuesday.

* OIL & NATURAL GAS CORP: Raised $300 mln through medium-term notes maturing on Dec 5, 2029. The notes carry a coupon of 3.375% per annum, payable semi-annually.

* POWER GRID CORP OF INDIA: Even as the government has issued notices to non-telecom public sector undertakings having some form of telecom licence to pay up their adjusted gross revenue dues, firms such as GAIL (INDIA) and the company have stated that they don't owe anything.

* PROCTER GAMBLE HYGIENE & HEALTH CARE: Procter & Gamble India has said it will invest 2 bln rupees to create an environmental sustainability fund, which will be used to partner companies providing sustainable solutions.

* RELIANCE INFRASTRUCTURE: KBC Equity Fund has sold 1.1% stake or 2.9 mln shares in the
company at 26.94 rupees a share through a bulk deal on the National Stock Exchange.

* TATA POWER CO: Wants to sell stake in its renewable energy portfolio to global investors, said Chief Executive Praveer Sinha.

* TATA STEEL: Tata Steel Europe has begun talks with its workers on a "transformation programme" that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised.

* VEDANTA: Hiked prices of aluminium ingots by more than 1% with effect from Thursday. The company has hiked prices after cutting them twice in a row.

* ZEE ENTERTAINMENT ENTERPRISES: Exchanges have asked the company to submit copies of
resignation letters of all the three resigning directors.

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Today's Sector News - 29.11.2019: 09.00 Am

Today's Sector News - 29.11.2019: 09.00 Am
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* AUTOMOBILE: The Ministry of Road Transport and Highways has deferred a proposal to exempt
battery-operated electric vehicles from registration fees, Minister for Road Transport and Highways Nitin Gadkari said.

* AVIATION: The board of Airports Authority of India has recommended that the airports operated by it at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur, and Tiruchirappalli be leased out to private players for operation, management and development under the public-private partnership model, Minister for Civil Aviation Hardeep Singh Puri said.

* BANKING: Units of debt exchange traded funds will be considered eligible securities for repurchase transactions, the Reserve Bank of India said in a notification.

* ENERGY:  Asian Development Bank has signed a $451-mln loan agreement with the Indian government to strengthen power connectivity between the southern and northern parts of the Chennai–Kanyakumari Industrial Corridor.

* FINANCE: Aditya Birla Finance has become the first entity to list its commercial papers on the National Stock Exchange and BSE platforms.

* REGULATORY: The Securities and Exchange Board of India has, with immediate effect, has allowed clearing corporations to invest in overnight funds, subject to certain conditions.

* STEEL: Lenders to Essar Steel may get more than 420 bln rupees from the resolution process. Lenders and ArcelorMittal have mutually agreed to appoint Grant Thorton for an audit of Essar's earnings before interest, tax, depreciation, and amortisation, which will flow to the lenders.

* SUGAR: Millers in Uttar Pradesh have asked the state government to do away with the reservation quota of molasses for manufacturers of country-made liquor in the state, as this is against the interests of farmers.

* TELECOMMUNICATION: Around 78,000 employees of embattled state-owned telecom player Bharat Sanchar Nigam had opted for voluntary retirement scheme as of Nov 23, Junior Telecom Minister Sanjay Dhotre informed the Rajya Sabha.
- The government has said it does not have any information which suggests that any entity under its
control was involved in the WhatsApp data breach, using 'Pegasus' spyware.
- SBI Caps has finalised a detailed evaluation of the bids of the four companies that have offered to
buy Anil Ambani's telecom business.

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Thursday, November 28, 2019

Today Commodity Pivot Table : 29.11.2019

Today Commodity Pivot Table : 29.11.2019


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Diamond : Technical View : 29.11.2019

Diamond : Technical View : 29.11.2019

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On an hourly chart, the price closed with positive note during the last session.

Moreover, It has sustained above the 21*50 days SMA’s and Parabolic Sar, which signifies power to the bulls.

Furthermore, the price has sustained above the Falling Trendline, which adds support in the counter.

Momentum indicators MACD has crossed above the zero level, which indicates bullishness.

As per the above technical structure; we expect bullish move in the counter.


Crudeoil : Technical View : 29.11.2019

Crudeoil : Technical View : 29.11.2019

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On the daily chart, the price closed with positively and gained 0.46% in the last session.

Moreover, the price has been trading above the Parabolic SAR, which indicates bullish trend may remain continue.

Furthermore, the price is also trading above the 200 SMA which suggest rising prices.

In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.

As per the above technical structure; we expect bullish move in the counter.

Copper : Technical View : 29.11.2019

Copper : Technical View : 29.11.2019

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On a four hourly chart, the price has slipped 0.23% during the last session.

Moreover, the price has below the median line of the Bollinger Band, which confirms bearish strength in the counter.

Furthermore, the price has sustained below the 50*20 day's EMA, which indicates control in the hands of the beers.

On the other hand, momentum indicator RSI(14) has been moving below the level 50, which may indicate bearish indication.

As per the above technical structure; we expect bearish move in the counter.

Gold : Technical View : 29.11.2019

Gold : Technical View : 29.11.2019

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On the daily chart, the price strengthen and gained 0.41% in the previous trading session.

However, the price has closed below the 20*50 day’s SMA, which adds more bearishness in the counter.

Furthermore, the price has sustained below the Falling Trendline, which signifies negative strength in the counter.

Additionally, a momentum indicator RSI(14) has been moving with negative crossover, which adds strength to move more downwards.

As per the above technical structure; we can expect a bearish move in the counter.

Nifty-Sensex-Pre Market View - 29.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 29.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red on Friday
29/11/2019 08:41
Indian benchmarks are expected to start the day on a negative note today and Investors will track global cues, macro data, and stock-specific action for market direction. Apart from that, market participants will also await the Gross Domestic Product (GDP) data for the September quarter, slated to be released later in the day, to get a clearer picture of the state of the economy.

Meanwhile, Asian shares ticked up on Friday, but the gains were capped as investors worried that US President Donald Trump signing into law a bill backing protesters in Hong Kong could fuel tensions with China. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.05% in early Friday trade while Japan's Nikkei gained 0.27%.

On Thursday, the 30-share benchmark index ended at 41130.17 up by 109.56 points or by 0.27% and then NSE Nifty was at 12151.15 up by 50.45 points.


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Wednesday, November 27, 2019

EURINR : Technical View : 28.11.2019

EURINR : Technical View : 28.11.2019

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* On the daily chart, the EURINR faced pressure and fell by 0.24 % during the previous trading session.

* Also, the pair has started trading below the Parabolic SAR which signifies bearishness in the counter.

* Moreover, It has sustained below the 50*200 days EMA’s, which is weak for the counter.

* Moreover, the pair has closed below its Ichimoku Cloud which signals that bearish momentum can be expected in the near term.

* So based on the above technical structure, we expect a bearish move in EURINR towards 78.71 level.

GBPINR : Technical View : 28.11.2019

GBPINR : Technical View : 28.11.2019

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* GBPINR closed on a weak note falling by 0.04% during it’s last trading session.

* Moreover, on the daily timeframe the pair has closed sustained below its 20 EMA which signifies power to the bears.

* Moreover, the pair has started trading below it’s Parabolic SAR which suggests bearish momentum in the counter.

* Also, momentum indicator RSI(14) has retreated after touching the overbought levels which suggests bearishness in prices in the near term.

* So based on the above technical structure, we expect bearish move in GBPINR future towards 91.99 level. 

JPYINR : Technical View : 28.11.2019

JPYINR : Technical View : 28.11.2019

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* During it’s previous session JPYINR closed on a weak note falling by 0.33%.

* Also, On the daily chart, the pair has sustained below its Ichimoku Cloud, which confirms that the prices are in a downtrend.

* Moreover, the price has been trading below the 20*50 EMA, which indicates power to the bears.

* Additionally, the daily Heikin Ashi candle of the pair has formed a series of strong red candles, which is bearish.

* So based on the above technical structure, we expect bearish move in JPYINR towards 65.50 level.

USDINR : Technical View : 28.11.2019

USDINR : Technical View : 28.11.2019

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* The USDINR pair experienced weakness at the upper levels and fell by 0.23% during the last trading session.

* Also, the pair has sustained below its Parabolic SAR, which suggests lower prices for the days to come..

* Furthermore, momentum indicator MACD has shown a negative crossover, which confirms power to bears.

* Additionally, the pair’s daily Heikin Ashi candle has formed a series of strong red candles which indicates bearish control in the counter.

* Hence, we expect bearish move in USDINR future towards 71.34 level.

Today's Stock News - 28.11.2019: 09.00 Am

Today's Stock News - 28.11.2019: 09.00 Am
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* ASHOK LEYLAND: Signed a two-year memorandum of understanding with AXIS BANK to offer
customised financial solutions to customers across India.

* AUTOLINE INDUSTRIES: The company has entered an agreement with Pune-based Kinetic Green Energy and Power Solutions for joint development and marketing of electric bicycles.

* BAJAJ ELETRICALS: HDFC Mutual Fund on Tuesday acquired 2.06 mln shares or 2% stake in the company through the open market.

* BHARTI AIRTEL: Has appealed to the Supreme Court to allow the company and the government to agree on the quantum of adjusted gross revenue-based dues that need to be paid and the timeline for the payments.

* BSE LTD: The board of the company has approved sale of 4,180,000 shares amounting to 4% stake in CENTRAL DEPOSITORY SERVICES (INDIA) via offer for sale.

* CEAT: Has signed an agreement to buy 26% stake in Greenzest Solar.

* CIPLA: The company's subsidiary Cipla (EU), holding 60% stake in Cipla Pharma Lanka, will acquire the remaining 40% stake in its Sri Lankan subsidiary from Citi Health Imports for 400,000 Sri Lankan rupees (around 157,899 rupees).

* CG POWER AND INDUSTRIAL SOLUTIONS: Lenders to the company have appointed Belgiumheadquartered auditing firm BDO to track the daily fund flows of the company and the transactions made by its management, sources said.

* ELDECO HOUSING AND INDUSTRIES: The company has entered into a share purchase agreement to acquire 17% of the total equity capital of Omni Farms.

* HINDUSTHAN URBAN INFRASTRUCTURE: The board has approved acquisition of the chemical business undertaking by the material subsidiary Hindusthan Speciality Chemicals from Hindusthan Engineering & Industries on a going concern basis.

* ICICI BANK: Is likely to file a consent plea to settle a case with SEBI on the alleged violation of listing disclosure norms involving its former chief executive officer and managing director Chanda Kochhar and Videocon group.

* IIFL SECURITIES: Hong Kong-based WF Asian Reconnaissance Fund has sold its entire 2.98% stake or 9.5 mln shares of the company at 24 rupees apiece through a bulk deal on the BSE.

* INDIAN OVERSEAS BANK: The Reserve Bank of India has imposed a penalty of 330,000 rupees on the bank. Bhuwan Chandra will take charge as the company's chief financial officer from Sunday.

* JET AIRWAYS (INDIA): The committee of creditors passed a resolution to extend the last date of
submission of resolution plan to Dec 16.

* LEMON TREE HOTELS: RJ Corp sold 11 mln shares or 1.4% stake in the company at 60.01 rupees per share through a bulk deal on the BSE.

* MAHANAGAR TELEPHONE NIGAM: The government has decided to allot fourth generation spectrum to state-owned Bharat Sanchar Nigam and the company at administered prices, in line with prices discovered in the 2016 spectrum auction, after taking legal opinion and "considering all aspects", said Telecom Minister Ravi Shankar Prasad.

* MAHINDRA & MAHINDRA: Has charted out an aggressive product launch plan of a dozen models in the coming three-four years, as it seeks to arrest the slide in its share in an intensely competitive utility vehicle market.

* PVR: Has tied up with global movie streaming service Mubi, to be a part of the growth in the Indian overthe- top market. The partnership will allow Mubi subscribers in India get a free ticket to watch a movie releasing at PVR cinemas every week.

* RBL BANK: The board will meet on Saturday to consider raising funds through issue of shares on a preferential basis.

* RELIANCE INDUSTRIES: Has invested 100,000 rupees in wholly-owned subsidiary Jio Platforms.

* RELIANCE INFRASTRUCTURE: KBC Equity Fund has sold 0.9% stake or 2.2 mln shares in the
company at 27.86 rupees per share through a bulk deal on the National Stock Exchange.

* SHIVA CEMENT: The board has approved expansion plan for setting up of 3,000 tn per day clinker unit along with 1 mtpa grinding unit.

* TATA COMMUNICATIONS: Has received order from Kacific Broadband Satellites Group for digital services.

* TATA MOTORS: Rolled out the first unit of its hatchback Altroz on Wednesday, scheduled for
commercial launch in January, from the Pune plant. Is working on a voluntary retirement scheme for more than 1,600 people.

* TILAKNAGAR INDUSTRIES: The company will pay 1.02 bln rupees as one-time settlement of the total 2.87 bln rupees to STATE BANK OF INDIA as the loan account of the company had been classified as nonperforming asset by the bank.

* TVS MOTOR CO: Launched Bharat Stage-VI emission norm-compliant Jupiter Classic scooter at an exshowroom price of 67,911 rupees.

* ZEE ENTERTAINMENT ENTERPRISES: Subodh Kumar and Neharika Vohra, who resigned as the company's directors on Monday, said they had done so because of inaction by the company's management on several issues they raised.

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Today's Sector News - 28.11.2019: 09.00 Am

Today's Sector News - 28.11.2019: 09.00 Am
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* AUTOMOBILE: Energy Efficiency Services, under the Ministry of Power, has signed a Memorandum of Understanding with South Delhi Municipal Corp, to establish 75 charging infrastructure for electric vehicles.

* CEMENT: JSW Cement plans to raise its production capacity to 25 mln tn by 2023, for which it plans to spend 28.75 bln rupees. The company plans to reach a capacity of 20 mln tn by 2021 and only then go for a public issue, Parth Jindal, managing director, said.

* ECONOMY: Finance Minister Nirmala Sitharaman said she has not ruled out more measures to revive the economy. Sitharaman has blamed the lag effect of twin balance sheet problem of 2014-15 for the slowdown in the GDP growth in the past two years.

* ENERGY: The Asian Development Bank has approved a loan of $250 mln as part of an assistance
package to Energy Efficiency Services to expand energy efficiency investments in India.

* INFORMATION TECHNOLOGY: The government is preparing a national-level framework to use
blockchain technology, Minister of State for Electronics and IT Sanjay Dhotre said in the Lok Sabha.

* REGULATORY: The Securities and Exchange Board of India has issued guidelines for the preferential issue and institutional placement of units by listed real estate investment trusts and infrastructure investment trusts.

* TELECOMMUNICATION: The Telecom Regulatory Authority of India has floated a consultation paper seeking views on increasing transparency in tariff offerings by telecom service providers to consumers, particularly the contours of publishing the tariffs on various public portals.
Fifth generation mobile services are likely to comprise 11% of all mobile subscriptions in India by 2025, according to telecom equipment maker Ericsson. 5G is expected to be operational in India by 2022. The spectrum proposed for upcoming auction is enough to start fifth generation services in the country, Telecom Minister Ravi Shankar Prasad said.

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Today Commodity Pivot Table : 28.11.2019

Today Commodity Pivot Table : 28.11.2019


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Diamond : Technical View : 28.11.2019

Diamond : Technical View : 28.11.2019

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On the daily chart, the price closed with negative note during the last session.

However, It has sustained above the 21*50 days SMA’s and Parabolic Sar, which signifies power to the bulls.

Furthermore, the price has sustained above the Falling Trendline, which adds support in the counter.

Momentum indicators MACD has crossed above the zero level, which indicates bullishness.

As per the above technical structure; we expect bullish move in the counter.


Crudeoil : Technical View : 28.11.2019

Crudeoil : Technical View : 28.11.2019

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On the daily chart, the price closed with negatively and slipped 0.92% in the last session.

However, the price has been trading above the Parabolic SAR, which indicates bullish trend may remain continue.

Furthermore, the price is also trading above the 200 SMA which suggest rising prices.

In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.

As per the above technical structure; we expect bullish move in the counter.

Copper : Technical View : 28.11.2019

Copper : Technical View : 28.11.2019

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On a four hourly chart, the price has slipped 0.30% during the last session.

Moreover, the price has below the median line of the Bollinger Band, which confirms bearish strength in the counter.

Furthmore, the price has sustained below the 50*20 day's EMA, which indicates control in the hands of the beers.

On the other hand, momentum indicator RSI(14) has been moving below the level 50, which may indicate bearish indication.


As per the above technical structure; we expect bearish move in the counter.

Gold : Technical View : 28.11.2019

Gold : Technical View : 28.11.2019

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Whatsapp Number : 91-9094047040 / 91-9841986753


On the daily chart, the price weakened and slipped 0.44% in the previous trading session.

Moreover, the price has closed below the 20*50 day’s SMA, which adds more bearishness in the counter.

Furthermore, the price has sustained below the Falling Trendline, which signifies negative strength in the counter.

Additionally, a momentum indicator RSI(14) has been moving with negative crossover, which adds strength to move more downwards.

As per the above technical structure; we can expect a bearish move in the counter.

Nifty-Sensex-Pre Market View - 28.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 28.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red on Thursday
28/11/2019 08:39
Indian benchmarks are expected to start the day on a negative note today due to the expiry of the November series of Futures and Options contracts. Apart from that, market participants will track global cues, stock-specific action, the rupee's trajectory, and foreign fund flow for market direction.

Meanwhile, Asian share markets wobbled on Thursday as concerns that tensions over Hong Kong could stymie a US-China trade deal cast a pall over Thanksgiving cheer from unexpectedly positive US economic data. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, while Japan's Nikkei flitted in and out of positive territory.

On Wednesday, the 30-share benchmark index ended at 41020.61 up by 199.31 points or by 0.49% and then NSE Nifty was at 12100.7 up by 63 points.


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