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Fundamental Market Analysis for April 24, 2024 USDJPYThe Japanese Yen (JPY) continues to struggle to make a significant recovery and languished near multi-decade lows against its US counterpart during Wednesday's Asian session. Traders seem reluctant to make a decision and prefer to wait for an important Bank of Japan (BoJ) decision on Friday. In addition, this week investors will face the release of the advance first quarter GDP report and the Personal Consumption Expenditures (PCE) price index from the US on Thursday and Friday respectively. The combination of key central bank events and important US macroeconomic data will play a key role in determining the next leg of directional movement for the Dollar-Yen pair. Meanwhile, expectations that the interest rate gap between the US and Japan will remain wide, along with the overall positive tone on risk, continue to undermine the safe-haven Yen. However, speculation that the Japanese authorities will intervene to support the local currency has kept JPY bears from betting aggressively. In addition, the US Dollar (USD) is near its lowest level in a week following Tuesday's disappointing US PMI data, and this is another factor contributing to the USD/JPY pair's decline. Nevertheless, hawkish expectations from the Federal Reserve (Fed) should serve as a tailwind for the dollar and limit the currency pair's decline. Trading recommendation: Trade in the channel 154.200-154.900 on bounces from the levels.
by Fresh-Forexcast2004
Fundamental Market Analysis for April 23, 2024 GBPUSDThe Pound-Dollar pair remains on the defensive near 1.23500, its lowest since mid-November, in Tuesday's early Asian session. The US Dollar Index (DXY) is consolidating above 106.10 as traders await the preliminary S&P Global purchasing managers' index (PMI) data from the US and UK for April. Federal Reserve (Fed) policymakers agreed that US inflation is slowly declining but remains high. Therefore, the US central bank is in no hurry to cut interest rates. Atlanta FRB President Raphael Bostic noted that interest rates will have to be held at a "restrictive level" and may not be lowered until "late 2024." At the same time, Chicago Fed President Austan Goolsbee said a longer timeline for rate cuts as progress on inflation has "stalled." Growing speculation that the UK central bank will cut interest rates sooner than the US Fed is putting pressure on the Pound Sterling (GBP). Last week, Bank of England Deputy Governor Dave Ramsden said that progress in UK inflation and a worsening economic outlook would allow the Bank to start its rate cut cycle earlier than previously expected. Investors estimated the probability of a June rate cut at 60%, according to Reuters. Trading recommendation: Trade predominantly with Sell orders from the current price level.
Short
by Fresh-Forexcast2004
VEDANTA cmp 257, target of 300 ++ in 10-15 trading sessionsVedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namibia, Ireland, Liberia & UAE. Its other businesses includes commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrate in South Korea and Taiwan. Vedanta is the market leader in production of Nickel in India. Below are the revenue-mix details of various businesses: 1. Zinc, Lead & Silver (25% of revenues) It runs its Indian Zinc operations through its subsidiary, Hindustan Zinc Ltd (HZL) in which it owns ~65% stake. HZL is the largest primary zinc producer in India, with an expected 80% market share in 2022.One of the most notable achievements has been the successful commissioning of a 3000 KLD Zero Liquid discharge (RO-ZLD) plant at the Zinc Smelter Debari 2. Oil & Gas (9% of revenues) The Co. is India’s largest private sector crude oil producer. It accounts for ~25% of the total crude oil production of India. 3. Aluminium Business (39% of revenues) Vedanta has the largest aluminium installed capacity in India at 2.3 mtpa. It has a 47% market share in India among primary aluminium producers. Mines - Via BALCO, the company has 2 bauxite mines with capacity of ~2 MnTPA of bauxite and a coal mine to capacity of 1 MnTPA. 4. Power Segment (4% of revenues) Its flagship power project Talwandi Sabo Power Ltd (TSPL) is located in Punjab. The company has 25 years of long-term power purchase agreement with Punjab State Electricity board 5. Iron Ore Segment (5% of revenues) Vedanta is one of the largest merchant iron-ore miners in India. 6. Copper Business (12% of revenues) This includes refinery and rod plant Silvassa consisting of a 133,000 MT of blister/secondary material processing plant, a 216,000 tpa copper refinery plant and a copper rod mill with an installed capacity of 258,000 tpa. Its international copper operations include a copper mine in Tasmania, Australia which remains under care and maintenance. It is evaluating various operations to restart mining operations. 7. Other Businesses (6% of revenues) The Co. is also engaged in the business of steel manufacturing and port operations in India and manufacturing of glass substrate in South Korea and Taiwan. Upcoming Growth & Projects: Vedanta has a strong pipeline of growth projects and is incorporating future enabling businesses in its portfolio. In the Oil & Gas segment, the Co. intends to undertake new growth capex projects worth $687mn. In the Aluminium segment, it intends to incur a $1.4 bn growth capex over 2 years. This includes aluminium capacity expansion to 3 MTPA by Q3 FY24, Alumina capacity expansion to 6 MTPA by FY24 & 100% operationalization of 3 coal mines in a phased manner by Q3 FY24. The company is focused on community development and achieving a greener business model. Vedanta achieved a 5-point improvement in the S&P Global Corporate Sustainability Assessment Index. Current Performance and News: Vedanta reported strong financial results for Q2 FY '24, with highest ever second quarter consolidated revenue, EBITDA, and PAT. Operational performance was strong across all businesses, with healthy production and cost control. The aluminium sector delivered one of its best quarters in terms of production and operational efficiency. Hindustan Zinc remained in the first decile of the cost curve globally, with further cost reductions. The oil and gas business delivered stable production and reduced operating expenses through optimization. The iron ore business saw higher sales and margin expansion. The company received a favourable arbitration award in its oil and gas business, resulting in a positive impact on revenue and EBITDA. The INR4,600 crores gained from the arbitration award will be realized in cash over the next few quarters. Vedanta Limited has upcoming debt maturities of around $1 billion in the next two quarters, but the company feels comfortable in managing refinancing or repayment. Vedanta Limited's Board has approved the proposal to demerge the business into six independent listed entities. Key Ratios: Market Cap - ₹ 95,606 Cr ROCE - 21.2 % ROE - 20.4 % Dividend Yield - 39.2 % Debt to equity - 2.38 Stock P/E - 19.3 Industry PE - 17.5 Conclusion: Technically, the strong price pattern at the bottom and then there is a trendline and price pattern breakout with huge volumes and there is change in price structure from lower highs lower lows to higher highs and higher lows. This itself gives strong conviction to buy at current levels and add more on dips if it comes. Vedanta is the market leader in the commodities segment and looking at the current market scenarios where metal, oil & gas and power sector are doing well due to various macro-environment factors and the company's improvement in profit and profit margins, various growth prospects, debt repayment being taken cared of and demerger benefits, the stock at current market price of 257 is a strong value buy for a minimum target of 300 in 10-15 trading sessions, which gives return of 16% in just 2 weeks .
NSE:VEDLLong
by PrashantDahale
1
Strong Buy Aartiinds cmp 645, target 740-745 in 10-15 sessionsAarti Industries Ltd manufactures and deals in Speciality Chemicals and Pharmaceuticals. Company has 21+ manufacturing units, 100+ products, 700+ domestic customers, 400+ export customers in 60+ countries with major presence in the USA, Europe, Japan, etc. Product Profile: a) Special Chemicals: Benzene, toluene, nitric acid, chlorine, methanol, aniline, sulphur, etc. b) Pharmaceuticals: API, Intermediates, Xanthine Derivatives, CDMO User Industries: Polymer and additives, agrochemicals and intermediates, dyes, pigments, paints, and printing inks, pharma intermediates, fuel additives, rubber chemicals, resins, etc. Clientele: a) Polymers and Additives: BASF, Sojitz, Solvay, Teijin, Toray, Dupont, Sabia, Dic b) Pigments, Paints, Printing Inks and Dyes: Huntsman, Clariant, Atul, Archroma, Sun Chemical, Sudarshan c) Agro Intermediates & Fertilizers: Bayer, Sygenta, UPL, Gharda Chemicals, FMC, Makhteshim, Coromandel Segmental Revenue: In FY22, company generated revenue from Speciality Chemicals 84% and Pharmaceuticals 16% Geographical Revenue Split: In FY22, company generated revenue from Exports 44% which consisted of revenues from North America 11%, Europe 11%, China 5%, Japan 3% and rest of the world 11% Demerger: On 30th January 2023, company demerged its Pharma entity into a separate company viz. Aarti PharmLabs Limited after getting approval from NCLT Ahmedabad. Shareholders of the demerged company received 1 equity share of Rs. 5/- of the Resulting Company for every 4 equity shares of Rs. 5/- held in the Demerged Company Future Projects: Company is adding new chemistries and 40+ Value added products for Chemical by doing CAPEX of Rs. 2,500-3,000 crore, and also doing site development work on 100+ acre land at Jhagadia, which is expected to be completed by FY24. These include: a) USFDA capacity expansion underway: API unit at Tarapur and intermediate unit at Vapi b) Expansion cum asset upgradation for acid unit at Vapi c) Expansion, asset restoration, sustainability initiatives, etc. d) Unit at Jhagadia for 3rd long-term contract e) NCB capacity expansion at Vapi Partnership: On November 19th 2022, company signed a binding term-sheet with Deepak Fertilizers (DFPCL), for Nitric Acid off take and supply arrangement valued over ~Rs. 8,000 crore for a 20-year period. DFPCL will supply Nitric Acid to the company, at formula driven international prices from 1st April 2023 18th January, 2024: Aarti Industries Limited (AIL) announces the signing of a long-term agreement with a multinational conglomerate for supply of a niche speciality chemical. The contract entails supply over a period of four years and is anticipated to generate revenue of over Rs. 6000 crores for the Company. Financial Performance: Aarti Industries exhibited strong resilience and delivered robust performance with a 16% increase in absolute EBITDA compared to the previous quarter. Revenues increased by 2% to Rs. 1,597 crore in Q2 FY24 compared to the previous quarter. EBITDA grew by 16% on a Q-o-Q basis to Rs. 233 crore in Q2 FY24. Profit after tax stood at Rs. 91 crore in Q2 FY24, higher by 30% over the previous quarter. Aarti Industries maintains optimism about potential demand revival in end-use segments such as agrochemical, polymer additives, and other discretionary applications. The company expects better performance in H2 FY24 and foresees FY25 as a normalizing year considering the current pace of recovery. The export market is showing stronger momentum compared to the domestic market. The company expects to sustain and grow its market share in the export market. The demand for octane boosters, a key product, is growing, and the company expects to sustain and grow this demand. The company anticipates a gradual recovery in global demand and a decrease in competitive intensity. The company is progressing well with various expansion projects and expects to commission them in a phased manner from next year. Aarti Industries is committed to deploying Rs. 2,500 to 3,000 crore for growth initiatives over a two-year period. The company is targeting commissioning of the ethylation and nitrotoluene projects in Q1 FY25. Margins have improved due to a better product mix and the recovery in demand for certain products. The company expects the bottoming out of margins in the first quarter and a gradual improvement going forward. The company is focused on optimizing staff costs and other expenses.The company expects FY25 to see a progressive increase in volume and EBITDA, with a quarter-on-quarter improvement in performance. The company expects to see a gradual recovery in volumes and margins in the second half of FY24.The net debt is expected to peak at around Rs. 2,700-2,900 crore in FY24. The company expects to see a normalization of business in FY25 as the demand recovers and inventory correction is completed. The company expects volume growth across various product lines in FY25, leading to an improvement in performance. The company's exports are predominantly to regular markets, with non-regular markets accounting for around 10% of exports. Margins in non-regular markets are generally lower, but the company expects the benefit of regular markets to accrue in the future. Conclusion: The company has a strong potential to grow as it has already signed big revenue contracts for long term and looking at a growth prospects, the share price can easily reach 900 in matter of 2 months. However for a technical trade, we see a good upside momentum and strong buying pattern, completing a big U-shaped recovery and expecting a target of 740-745 in next 10-15 trading sessions max.
NSE:AARTIINDLong
by PrashantDahale
6
Strong BUY BCG cmp 17.45, target 22.50/26.50 in few days Brightcom Group Ltd(BCG) offers digital marketing solutions to businesses, agencies and online publishers worldwide. Services Provided: The Company is divided into three major divisions: a. Ad-Tech and Digital Marketing: The services include Video Advertising, Display Ads Marketing, Performance-based Marketing, Search Marketing, Email Marketing and Lead Generation, Afliate Marketing, Social Marketing, Mobile Marketing, Niche Campaigns, Digital Trafc Management, Ad Serving b. Software services: The Company’s software services include developing customized technology platforms to solve specific needs of clients primarily around digital media and other related offerings c. Future technologies: The company’s future technologies division consists primarily of the Company’s LIFE product and developments in artificial intelligence, machine learning and Digital Out of Home(DOOH) advertising. Revenue Breakup - Q1FY24 Advertising Revenue : 94% Software Revenue : 5% Other Revenue : 1% Interim Order By SEBI An Interim order was passed by SEBI on 22.08.23 related to concerns regarding preferential allotment made by the company in FY20 & FY21. They suspected that money raised were given as loans and advances to its subsidiaries. It was also alleged that proper disclosures were not made in the Annual report and also disclosures related to preferential utilisation were not made. Post this the entire management of Brightcom has stepped down. Forensic Audit: SEBI ordered Forensic Audit of company on 16/09/2021 and Deloitte Touche Tohmatsu India LLP were appointed as forensic auditor w.r.t the financial statements from FY 2014-15 to FY 2019-20. The said Forensic Audit is under progress and the final outcome of the investigation is yet to come by the time of certification Market Cap - ₹ 3,513 Cr. Book Value - ₹ 34.7 Price to book value - 0.51 Debt - ₹ 0.00 Cr. EPS - ₹ 7.01 ROCE - 30.9 % Stock P/E - 2.51 Industry PE - 34.1 Currently the stock is terribly undervalued and we feel all the negatives is deeply discounted and technically it completely bottomed out at this valuation. We have recently the strong buying appearing and there is a good buying pattern emerging. So we strongly suggest a buy in BCG shares at 17.45 and buy till 18.5 for a target of 22.50 and 26.50. Valuation wise even at 26.5 its a buy but technically these are the resistance levels appearing. Stop loss 16
NSE:BCGLong
by PrashantDahale
1
Sell USDCHF BreakoutThe USD/CHF pair on the M30 timeframe presents a possible shorting opportunity due to a recent breakout from a pattern. Potential Short Trade: Entry: Below the broken level, ideally around 0.9140 after confirmation of the breakout. Confirmation could involve a retest of the broken level as resistance or a sustained move below the level. Target Levels: 0.9060: This represents a potential initial target based on a measured move approach (distance from the breakout point to the pattern's height). 0.9024: This is a further extension of the downside target. Stop-Loss: Place a stop-loss order above the broken level, ideally around 0.9155. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
15
Sell GBPJPY CPI DataThe GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish wedge pattern. This suggests a potential acceleration of the downtrend and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support line of the wedge, ideally around 192.80. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the following points: 190.72: This represents the height of the wedge, measured from the wedge's peak to the breakout point, projected downwards from the breakout. 190.20: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the wedge, ideally around 193.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
9
Investors Await Q1 ReportKey arguments in support of the idea. ▪ UNH stock has come under pressure from a series of adverse events, though Q1 earnings may improve investor sentiment regarding further UNH business growth potential. ▪ A good moment for buying, both fundamentally and technically. Investment Thesis UnitedHealth Group (UNH) engages in the provision of health insurance, software, and related consulting services. UNH is the largest provider of healthcare plans in the US. In Early 2024, UNH’s Stock Came Under Pressure from Several Adversities at Once . First, it is a cyberattack on Change Healthcare services, that led to a temporary freeze on payments from medical organizations. At the time of finalizing this report, UnitedHealth informed that services were restored, and that it did not expect big implications for financial results. However, market participants fear a one-time negative impact on profitability in Q1 2024. Shortly after the cyberattack, it was reported that the US Department of Justice had initiated an antitrust investigation for examining the strength of relationship between UnitedHealth’s insurance and medical business divisions. The impact of the investigation is uncertain, and we do not believe it to influence the stock in the short term. Investors Were Disappointed by CMS’ Final Decision on Medicare Advantage (MA) Payment Rates. On April 2, MA plan rate rises for 2025 compared to 2024 became finally known. The payout rate remained at the proposed level of 3.7% y/y, disappointing investors looking for a bigger increase. This caused a negative market reaction: UNH, the largest player, ended the April 2 trading with a 9.3% drop. Some other major stocks reacted that day accordingly: HUM (-13.4%), CVS (-7.2%), ELV (-3.3%). The worsened MA business revenue expectations for 2025 are already reflected in prices. However, the Optum segment’s organic growth (OptumHealth, OptumInsight, and OptumRx) remains a strong point of the Company and may support its Q1 2024 results that will be released on April 16. Expectations for Q1 Report. We think that investors will be focused on the guidance for 2024. Management’s confirmation or improvement of the existing guidance could dispel investor worries. Besides, we expect a detailed commentary on the impact of the cyberattack and the MA rate decision on financial results. Now Is a Good Time to Buy. The P/E NTM ratio has decreased to 15.8, which is lower than the Company’s all-time average of 18.8. The RSI has dropped below 30 points, signaling a likely reversal. We consider UNH shares’ current weakness as a good opportunity to buy, assuming that (1) the impact of the approved MA 2025 rate is already reflected in prices, (2) the cyberattack will have a one-time insignificant implication for UNH, and (3) there is still a high demand in the MA market, and UNH remains the largest and growing provider of healthcare plans. The target price for UNH over a 2-month horizon is $495, which corresponds to P/E NTM of 18. We recommend Buying and setting a Stop Loss at $415.
NYSE:UNH
by FreedomHolding
Fundamental Market Analysis for April 16, 2024 USDJPYThe Japanese yen (JPY) fails to gain meaningful momentum during Tuesday's Asian session and languishes near the 34-year low reached against the U.S. currency the day before. Monday saw a report that the Bank of Japan (BoJ) will focus less on inflation and shift to a more discretionary approach in setting monetary policy. Meanwhile, BoJ Governor Kazuo Ueda said that after the abolition of negative rates in March, the central bank will revert to conventional monetary policy, which allows different data to determine the future path of rate hikes. This adds to the uncertainty in the BoJ's outlook for future rate hikes and continues to undermine the yen. In contrast, markets pushed back expectations for the first interest rate cut by the Federal Reserve (Fed) following the release of better than expected US consumer inflation data for March. This suggests that the large rate differential between the two countries will persist for some time to come, which, along with the bullishness of the US Dollar (USD), serves as a tailwind for the Dollar-Yen pair. Trading recommendation: Trade predominantly with Buy orders from the current price level.
Long
by Fresh-Forexcast2004
Sell EURCAD ECB Interest RateThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4700. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4656: This represents the first level of support within the channel. 1.4628: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4720. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
3
The USD in a ConundrumThe USD at the start of the year was trading near the 100 lvl but has managed to push above the 106 lvl in a little over a few months. If price is able to break out of the 107 lvl, there isn't to many resistances for the USD to break (the 108 could be one) and price might be able to hit the 114 lvl made in 2022. With the CPI data coming in a little higher then expected and traders/investors/analysts speculating that the FED will likely hold off on reducing rates (currently, FED Rate Monitoring tool is showing a 71.7% chance of FED holding rates), the elections coming up, conflicts in the Middle East/Europe/Asia, continued government spending (which keeps increasing), not enough government revenue which leads to more borrowing, this puts the FED between a rock and a hard place. Will the FED continue to hold rates and potentially push the economy to a recession (and a real one not one that did happen but supposedly didn't happen, back in 2022 Q1/Q2) or continue on with lowering rates, keep the economy going and potentially cause inflation to spike? Either way it is No Bueno. What is interesting is how commodities such as Gold/Silver/Oil are pushing up higher while the USD pushes up higher. These products are typical non correlated to each other, yet, currently they are. The USD shot up to 106. Silver from the start of the year pushed up from near 22 to now coming close to hitting 30 before pulling back to below 28. Gold pushed lower to below 2,000 in the beginning of February and pushed above 2,440 before pulling back to 2,360. Oil began near 70 and is trading above 85. So, when things return to the mean (non correlated), either the USD will take a hit or commodities will. The main things is how much of a hit will happen. Risk assets such as the stock market are finally taking a hit as the market just kept climbing and climbing, with the DJ Futures Market pushing past 40k and finally being cracked in the beginning of April. I am thinking that the USD might be able to hit the 108 lvl as other Central Banks are holding onto rates (just recently the ECB stuck to holding rates). If the FED holds onto current rates and other banks decide to reduce rates, the USD will skyrocket higher. If other banks decide to keep holding rates while the FED does, it will likely be whose economy can withstand the higher rates the longest. Protect yourselves with either reducing position sizing to withstand a large move, hedge, or do not be in a trade and see if price moves how you are speculating it. I have no position on the USD or in Forex itself (I'm tied up in other trades), but I am watching this because it is part of the plan I have when my other positions in other trades are completed. Y'all have some great trading out there.
INDEX:DXYLong
by DollarSaenz
Gold | News Review and Its Impact on Gold MarketUS Labor Market Data Preview - Friday, April 5, 2024 To analyze the market's reaction to today's NFP data, it's crucial to review past market events. The Federal Reserve needs two conditions to ease interest rates: 1) Continued downtrend in inflation 2) Weakening labor market. Therefore, today's NFP data is the most critical news release. Previous NFP Data: Non-farm payroll: 275K new jobs Average hourly earnings: 0.1% (4.3% y/y) Unemployment rate: 3.9% Based on these figures, 60% of economists and investors believe the Fed will start cutting rates from June. NFP Forecasts: Various forecasting models, considering ISM Services Index, Manufacturing, ADP, and 4-week moving average of jobless claims, predict NFP to be between 200K and 250K jobs. Crucial Data Point: Contrary to popular belief, today's key data is not the total NFP figure but rather the change in the number of employed persons (Employed) last month and the number of people who wanted to be in the labor force but could not find a job (Unemployed). Last month, the number of employed persons decreased by 184K from January, while the number of unemployed persons increased by 334K, leading to a 0.2% rise in the unemployment rate. Technical Analysis for Gold: Personal Opinion: I am bullish on gold, and today's news is likely to support gold prices. Expected Price Movement: I anticipate a move to the 2285 support level followed by a strong upward move towards 2305 and 2330. Key Resistance: 2305 - 2310 and 2325 - 2330 Key Support: 2282 - 2285 and 2272 - 2277 Please note: This trend could change based on today's news. Additional Considerations: Inflation: If inflation remains stubbornly high, it could pressure the Fed to maintain a hawkish stance, limiting gold's upside potential. Geopolitical Tensions: Escalating geopolitical tensions could boost gold's safe-haven appeal. Real Interest Rates: Rising real interest rates could make gold less attractive compared to interest-bearing assets. Overall, today's NFP data and other economic indicators will play a significant role in shaping gold's short-term direction. Traders should carefully monitor market news and data releases to make informed trading decisions.
OANDA:XAUUSDLong
by uPaSKaL
29
Gold | How far can the uptrend continue? Given the strong uptrend of gold and breaking the resistance at 2350, we can expect the next price ceiling to be in the range of 2370 - 2375, and gold to move towards this range. Key resistances: 2350 2370 - 2375 Key supports: 2325 - 2330 2300 - 2305 Fundamental: Wall Street Awaits Earnings Reports, Oil Eyes Global Demand, CPI and Central Bank Meetings in Focus The second quarter of 2024 got off to a rough start for Wall Street. Strong US economic data and surprise nonfarm payrolls results led market participants to reassess rate hike expectations, compounding geopolitical tensions in the Middle East that stoked some short-term concerns. Oil prices hit their highest level in five months and oil continued its record-setting rally despite the dollar not strengthening. Continued conditions could complicate the Fed's role in inflation and push it to the sidelines. April will focus on the next earnings season in the US to see if corporate revenue recovery since late last year has more room to run. As usual, earnings season kicks off with reports from big US banks like JPMorgan, Wells Fargo and Citigroup on Friday the 12th. This week will also see inflation data from the US and China including consumer (CPI) and producer (PPI) prices, central bank meetings from Europe, Canada and New Zealand, US corporate earnings reports, UK GDP and more in focus for investors. Inflation and Fed Meeting Minutes Again Under Investor Microscope The most important US event this week will be inflation data for March with consumer (CPI) and producer (PPI) price indexes. Inflation has stubbornly stayed hot in recent months, with housing especially sticky and surging insurance costs greatly impacting core inflation readings. Uncertainty remains but prices paid in the ISM, NFIB prices and employment cost index all indicate pricing pressures should meaningfully abate through the year. However, the Fed is concerned about some metric influences like one-off annual insurance hikes, rent increases and more that could further cloud the outlook. Core CPI is expected to rise 0.3% monthly and 3.7% yearly in March, down 0.1% from prior periods in both measures. Headline CPI is seen easing to 0.3% monthly and rising to 3.4% yearly, a 0.2% increase from prior. PPI is also expected to show easing pressures. Overall, hotter-than-expected inflation could push price-setters away from a June Fed rate cut and hot inflation amid tight labor markets would reinforce dollar strength.
OANDA:XAUUSDLong
by uPaSKaL
11
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potentially interesting situation with a bullish channel breakout pattern. Potential Long Trade : Entry: Above the broken resistance line of the channel, ideally around 1.7175 after confirmation. Target Levels: 1.7244: This represents the height of the channel, measured from the apex (highest point) to the base (opposite trendline), projected upwards from the breakout point. 1.7272: This is a further extension of the upside target, based on the height of the recent price movement. Stop-Loss: Place a stop-loss order below the broken resistance line of the channel, ideally around 1.7145. This helps limit potential losses if the price fails to break out and reverses downwards. Thank you
Long
by KABHI_TA_TRADING
2
Yearly 14 PERCENT CAGR IS OLD SCHOOL get 6 percent CMGR -monthlyInd Renewable Energy Limited Formerly Known as Vakharia Power infrastructure Limited), a public company was incorporated on September 9, 2011 under the Companies Act, 1956. The Company is principally engaged in the business of Roof Top Solar Plant. looking for 88 % ROI in this share indrenew in next 88*2 days Can add upto 14.6 rupees can double its market cap from here onwards currently management facing compliance and corporate issues as of now but not for long time it will stay spot 18 date 9 april 2024 mail for acuite investment methodology vijay at vijaymarketingg . com thank you
BSE:INDRENEWLong
by EasyLife_Advisor
4
Buy CHFJPY Triangle BreakoutThe CHF/JPY pair on the M30 timeframe presents a potentially interesting situation with a triangle breakout pattern. Potential Long Trade : Entry: Above the broken resistance line of the triangle, ideally around 167.60 after confirmation. Target Levels: 168.75: This represents the height of the triangle, measured from the apex (highest or lowest point) to the base (opposite trendline), projected upwards from the breakout point. 169.18: This is a further extension of the upside target, based on the height of the recent price movement. Stop-Loss: Place a stop-loss order below the broken resistance line of the triangle, ideally around 167.45. This helps limit potential losses if the price fails to break out and reverses downwards. Thank you.
Long
by KABHI_TA_TRADING
7
Dogecoin - Facts & targets analysisWe see following facts: 1) Facts for go down: The probability that we will go down is higher than vice-versa. You can see this on 2W time frame; According to Elliot waves principle the Triangle appears in the wave 4 position, more frequently than vice-versa. Moreover the target of this triangle formation is already reached; DXY is rising, there are prerequisites for continuation of this movement; 2) Facts indicating go up probability: Every time when Dogecoin SMA 280 & 938 crossed each other we have seen pump! The first pump was in 2016 Aug +9000%. The second pump was in 2020 Nov +27000%. In case of confirmation of the crossing we could expect growth comparable to the first pump. In case of go down the bottom is around 0.008; I personally do not care which scenario will work out, because ready for both scenarios, by managing orders volume & risk/profit ratio. Hope you too. Good luck everybody and have massive profit.
CRYPTO:DOGEUSD
by dogecoin_chain