After touching the 100 level, the US dollar has retraced back to about 97. Barclays Barclays' head of forex for Asia-Pacific Mitul Kotecha said in light of the Fed's dovish stance, it may continue to take a pause in the very near term but maintained its medium term outlook to be strong.
If you are an investor with no position in the market right now, then you should keep it that way and wait on the sidelines on Monday. That's the advice from Sushil Kedia, Director (quantitative strategy) of CIMB.
Nifty may find good support at 5940-5970 levels. On the upside, the Nifty can touch 6,300-6,350 in the next few months on the back of persistent liquity inflow.
Gold prices slid further at the domestic bullion market today on lack of buying interest from stockists and traders at current levels and bearish trend in the overseas markets.
The RBI is coming in at all levels, but the rupees weakness inherent in the situation. Oil companies are buying lots of dollar -- India's biggest import. CNBC-TV18's Latha Venkatesh reports.
Rajini Panicker of MF Global Commodities India recommends selling the April contract of Nickel on MCX at levels of about Rs 926 per kilogram to Rs 931 per kilogram, Place a stop for this trade around Rs 944 per kilogram and look to target levels of Rs 900 per kilogram to about Rs 880 per kilogram.
Rajini Panicker of MF Global Commodities India recommends selling lead April contract on MCX at levels of Rs 107.50 per kilogram to Rs 108 per kilogram. She suggests placing a stop for this trade around levels of Rs 109 per kilogram and look to target levels of Rs 106 per kilogram to about Rs 104.50 per kilogram.
World equity markets advanced on Friday, on track to end the quarter with double-digit gains, as reports showing the U.S. economy and consumer sentiment still on the road to recovery helped buoy prices.
World stocks remained below this week's 8-month peak on Friday while demand for German government debt rose as concerns about Chinese and euro zone growth and a renewed focus on sovereign debt problems in Italy and Spain kept investors cautious.
Rajini Panicker, MF Global Commodities India recommends selling gold MCX April, if it tests levels of around Rs 28,000 per 10 grams. "Place a stop for this trade around Rs 28,100 per 10 grams and look for target levels of around Rs 27,600 per 10 grams," she advises.