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Time of India
11 hours ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for June 20, 2025; why a 'sell on rise' strategy makes sense?
LKP Securities says traders should follow a Sell on Rise approach as long as prices remain below the ₹99,150–₹99,350 resistance zone. (AI image) Gold price prediction today: Gold prices have shown a weak trend in the past few days. Where are gold rates headed in the near-term and what should investors of gold do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold prices opened with a significant gap-down in the June 20 session, reflecting prevailing weakness in COMEX Gold, and continue to trade with a bearish tone in domestic markets. The MCX Gold August Futures contract (05AUG2025) is currently quoting near ₹98,722 after touching an intraday low of ₹98,705, indicating persistent selling pressure at higher levels. Gold Price Outlook From a technical standpoint, the current setup favors a "Sell on Rise" strategy around the ₹99,000–₹99,150 levels. Here's why: 1. EMA Resistance Levels: The 8-period EMA is currently placed at ₹99,150, and the 21-period EMA is at ₹99,350. Prices are trading well below both averages, signaling a clear short-term downtrend. Any intraday pullback toward these levels is likely to attract fresh selling. 2. Bollinger Bands: The price action is hugging the lower Bollinger Band, a typical sign of trend continuation in strong bearish momentum. There's no indication of mean reversion yet, which suggests that rallies may be limited and short-lived. 3. Pivot Points: The previous day's pivot level near ₹99,200–₹99,350 now acts as a key resistance zone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 가장 편안한 농장 게임. 설치 필요 없음 Taonga 플레이하기 Undo Failure to reclaim this zone reinforces the bearish outlook. 4. RSI (14): The Relative Strength Index is hovering near 32.75, which is close to the oversold region but not yet showing signs of bullish divergence. This supports the argument for further weakness before any meaningful reversal. 5. MACD: The MACD indicator is strongly negative with the MACD line at -34.71 and the histogram indicating increasing bearish momentum. The signal line remains far below zero, indicating a continuation of the downward trend. 6. Price Action & Gap Analysis: Today's gap-down open confirms a breakdown from the range-bound structure observed between June 17–19. This price gap indicates strong selling interest, likely due to pressure in international gold prices and a firmer dollar index. Conclusion: Traders are advised to follow a Sell on Rise approach as long as prices remain below the ₹99,150–₹99,350 resistance zone. The immediate downside targets lie near ₹98,300 and further lower toward ₹98,000 if the bearish sentiment intensifies. A stop loss can be considered above ₹99,500 to protect against unexpected short-covering rallies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
4 days ago
- Business
- Economic Times
Deploy Iron Butterfly Spread in Nifty to play index range
On Friday, the Nifty index opened with a significant gap down of 415 points amid escalating geopolitical tensions between Israel and Iran. However, the index formed an open-low at 24,473, a bullish technical signal, and showed intraday resilience by recovering and closing at 24,718, down 169 a technical standpoint, Nifty found support at the 40-day Exponential Moving Average (EMA) at 24,510 and the lower Bollinger Band at
Time of India
09-06-2025
- Business
- Time of India
Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for
Gold traded rangebound on Monday amid a lack of triggers from international markets. The August MCX gold contracts moved within a 650-point range while slipping into the red. The weakness could be attributed to easing US–China trade tensions, while a higher-than-expected U.S. jobs report dampened expectations of interest rate cuts by the Federal Reserve. Lower rates are beneficial for the non-yielding yellow metal. Around 1:30 pm today, the August gold futures were trading at Rs 96,851 on the MCX, down by Rs 185 or 0.19%. Meanwhile, on COMEX, gold contracts were trading at $3,348.80 per troy ounce, up by $2.20 or 0.07%. Tech view Weekly Technical & Fundamental Outlook – MCX Gold (05 Aug 2025 Contract) Week Ending: June 7, 2025 Closing Price: Rs 97,036 Key support & resistance: Gold has turned sideways after a failed breakout attempt above Rs 98,700. The price was rejected near the upper Bollinger Band, forming a near-term double top around Rs 98,800–Rs 98,900. A steady base is forming around Rs 96,300–Rs 96,500, with the support zone at Rs 96,300 and major swing resistance at Rs 98,700. The short-term top is estimated at Rs 1,01,000. Trivedi said that a close below Rs 96,300 may invite selling pressure toward Rs 94,800–Rs 93,500, while a decisive breach above Rs 98,700 could lead to a rally toward Rs 1,01,000. RSI (14): 54.23 A neutral-to-mild bearish bias is seen as the RSI has cooled off from earlier highs and now hovers near the midline at 54, reflecting reduced bullish momentum. It is neither overbought nor oversold, indicating consolidation. Sustained weakness below 50 may confirm downside pressure. Bollinger Bands: Consolidation with resistance at the upper price band. The price was rejected at the upper Bollinger Band. Now, Rs 96,800 could open downside expansion. Moving Averages: Price is struggling around support EMA 8 (Red): Rs 97,300 EMA 21 (Yellow): Rs 96,400 The price has slipped below the EMA 8, indicating short-term weakness, while the EMA 21 continues to provide support. A close below Rs 96,400 would be structurally negative, favoring a bearish trend shift. MACD: Flat momentum with fading bullishness MACD Line: 727.68 Signal Line: 657.42 → Still bullish Histogram: 70.25 → Slightly weakening While the MACD remains positive, the histogram reflects declining bullish momentum. A bearish crossover is not confirmed yet but could occur if selling pressure continues. Trading strategy: Sell on rise with tight stop loss Gold is currently in a wait-and-watch zone with a mild bearish tilt. As long as Rs 98,700 is not breached on a closing basis, rallies are expected to face selling pressure. A break below Rs 96,400 could accelerate the downside toward Rs 94,800. Sell on rise: Rs 97,600–Rs 98,000 Stop Loss: Rs 98,700 (on closing basis) Targets: Rs 96,300 → Rs 94,800 While gold is expected to remain rangebound in the near term, its direction will depend on tariff negotiations between the US, China , and other key global players. On the domestic front, investors should monitor rupee movement—as a weaker INR against the USD will support domestic gold prices.
Economic Times
09-06-2025
- Business
- Economic Times
Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for
Gold traded rangebound on Monday amid a lack of triggers from international markets. The August MCX gold contracts moved within a 650-point range while slipping into the red. ADVERTISEMENT The weakness could be attributed to easing US–China trade tensions, while a higher-than-expected U.S. jobs report dampened expectations of interest rate cuts by the Federal Reserve. Lower rates are beneficial for the non-yielding yellow metal. Around 1:30 pm today, the August gold futures were trading at Rs 96,851 on the MCX, down by Rs 185 or 0.19%. Meanwhile, on COMEX, gold contracts were trading at $3,348.80 per troy ounce, up by $2.20 or 0.07%. Tech view Weekly Technical & Fundamental Outlook – MCX Gold (05 Aug 2025 Contract)Week Ending: June 7, 2025 ADVERTISEMENT Closing Price: Rs 97,036Key support & resistance: Gold has turned sideways after a failed breakout attempt above Rs 98,700. The price was rejected near the upper Bollinger Band, forming a near-term double top around Rs 98,800–Rs 98,900. ADVERTISEMENT A steady base is forming around Rs 96,300–Rs 96,500, with the support zone at Rs 96,300 and major swing resistance at Rs 98,700. The short-term top is estimated at Rs 1,01, said that a close below Rs 96,300 may invite selling pressure toward Rs 94,800–Rs 93,500, while a decisive breach above Rs 98,700 could lead to a rally toward Rs 1,01,000. ADVERTISEMENT RSI (14): 54.23 A neutral-to-mild bearish bias is seen as the RSI has cooled off from earlier highs and now hovers near the midline at 54, reflecting reduced bullish momentum. It is neither overbought nor oversold, indicating consolidation. Sustained weakness below 50 may confirm downside pressure. Bollinger Bands: Consolidation with resistance at the upper price band. The price was rejected at the upper Bollinger Band. Now, Rs 96,800 could open downside expansion. Moving Averages: Price is struggling around support ADVERTISEMENT EMA 8 (Red): Rs 97,300 EMA 21 (Yellow): Rs 96,400 The price has slipped below the EMA 8, indicating short-term weakness, while the EMA 21 continues to provide support. A close below Rs 96,400 would be structurally negative, favoring a bearish trend shift. MACD: Flat momentum with fading bullishness MACD Line: 727.68 Signal Line: 657.42 → Still bullish Histogram: 70.25 → Slightly weakening While the MACD remains positive, the histogram reflects declining bullish momentum. A bearish crossover is not confirmed yet but could occur if selling pressure continues. Trading strategy: Sell on rise with tight stop loss Gold is currently in a wait-and-watch zone with a mild bearish tilt. As long as Rs 98,700 is not breached on a closing basis, rallies are expected to face selling pressure. A break below Rs 96,400 could accelerate the downside toward Rs 94,800. Sell on rise: Rs 97,600–Rs 98,000Stop Loss: Rs 98,700 (on closing basis) Targets: Rs 96,300 → Rs 94,800 While gold is expected to remain rangebound in the near term, its direction will depend on tariff negotiations between the US, China, and other key global players. On the domestic front, investors should monitor rupee movement—as a weaker INR against the USD will support domestic gold prices. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
06-06-2025
- Business
- Business Standard
RBI cuts repo, CRR: 5 rate sensitive stocks to buy with up to 26% upside
The Reserve Bank of India (RBI) appointed Monetary Policy Committee (MPC) on Friday, announced a larger than expected 50 basis points repo rate cut, following its 3-day policy meet from June 4 - June 6, 2025. Further, RBI Governor Sanjay Malhotra also announced a liberal 100 basis points (bps) cut in the required cash reserve ratio (CRR) by banks to 3 per cent from 4 per cent presently. Lower interest rates tend to benefit rural and urban spending, and also spur credit growth due to decreased cost for borrowing. Post the policy announcement, rate sensitive stocks across sectors - auto, banks and real-estate rallied smartly on the BSE and the NSE. Given this background, here are 5 rate sensitive stocks that can potentially rally up to 26 per cent from present levels based on the existing technical chart patterns. HDFC Bank Current Price: ₹1,970 Upside Potential: 6.6% Support: ₹1,960; ₹1,934; ₹1,855 Resistance: ₹2,009; ₹2,036 HDFC Bank stock has bounced back above the higher-end of the Bollinger Band in intra-day trades on Friday. The near-term bias for the stock is likely to remain upbeat as long as the stock holds above ₹1,960 levels; below which key support for the stock stands at ₹1,934 and ₹1,855 levels. CLICK HERE FOR THE CHART On the upside, the HDFC Bank stock needs to break and trade consistently above ₹2,010 levels, for a likely rally towards ₹2,100 levels, with interim resistance around ₹2,036. ALSO READ | Adani Enterprises, Green, Power: Which Adani group stock is worth investing in? L&T Finance Current Price: ₹187 Upside Potential: 15.5% Support: ₹182; ₹175 Resistance: ₹194; ₹207 L&T Finance recently gave a breakout on the daily scale. The near-term bias for the stock is expected to remain bullish as long as the stock trades above ₹182; below which major support for the stock stands at ₹175. On the upside, the stock can rally to ₹194 in the near-term; above which a surge towards ₹207 and ₹216 levels cannot be ruled out. CLICK HERE FOR THE CHART Bajaj Auto Current Price: ₹8,628 Upside Potential: 26.3% Support: ₹8,585; 8,250 Resistance: ₹9,250 Bajaj Auto stock has found support around its 20-Day Moving Average (20-DMA) for the last five straight trading sessions. The 20-DMA support stands at ₹8,585; below which the key support stands at ₹8,250. On the upside, the stock can pull-back towards its 200-DMA, which coincides with the 50-Week Moving Average at ₹9,250 levels. Beyond which, the stock can potentially surge towards ₹10,900 levels. CLICK HERE FOR THE CHART Eicher Motors Current Price: ₹5,360 Upside Potential: 8.2% Support: ₹5,250 Resistance: ₹5,440; ₹5,557; ₹5,750 In recent days, Eicher Motors stock was seen seeking support around its 100-Day Moving Average (100-DMA), which stands at ₹5,250. As long as the stock manages to hold above the same, it can attempt a pullback rally towards ₹5,800 levels; with interim resistance likely around ₹5,440, ₹5,557 and ₹5,750 levels. CLICK HERE FOR THE CHART Prestige Estates Current Price: ₹1,669 Upside Potential: 16.8% Support: ₹1,640; ₹1,522 Resistance: ₹1,700; ₹1,755; ₹1,840 Prestige Estates is likely to trade on an upbeat note as long as the stock holds above ₹1,640 levels. That apart, the stock had recently crossed its 200-DMA, which stands at ₹1,522 and is likely to act as a key support going ahead. On the upside, the stock can potentially surge towards ₹1,950 levels, with intermediate resistance likely around ₹1,700, ₹1,755 and ₹1,840 levels.
