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Gold prices started the week positively due to weak US PMIs raising the likelihood of a pause in the June FOMC meeting. Hawkish comments from the ECB president also aided bullion. However, gold prices took a nosedive after central banks in Canada and Australia hiked rates after pausing previously. This raised convictions of Fed also following the same route due to core inflation if it fails to ease. Despite this, gold prices rose on Thursday as US weekly jobless claims rose again, for the third consecutive week. Meanwhile, China increased its gold reserves for a seventh straight month.

Stocks that were in focus include names like Indian Energy Exchange, which fell more than 10%, Sonata Software, which rose nearly 4% to hit a fresh 52-week high, while JustDial also clocked a fresh 52-week high on Friday.

Once we are able to cross above 18,750 on a closing basis, then short covering action can be there in the market. Then possibly Nifty can scale a new all-time high also. Buy-on-dip should be your strategy on the downside.

For most of us, spreading your money across different baskets is the best way to protect and grow your money.

The Nifty50 index remained within a narrow trading range, and closed with a slight gain of 29.30 points on a weekly basis, despite flirting with important resistance zones. Weak market breadth and the very low level of the India VIX are delaying an otherwise imminent breakout, and if the breakout occurs in these conditions, a questionable rally is expected. The RRG analysis shows Nifty Consumption, Auto, and MidCap 100 indices are inside the leading quadrant and may outperform broader markets, while Nifty Financial Services and BankNifty have shifted to the weakening quadrant.

As far as the IT sector is concerned, much of the underperformance is over. If you notice the trajectory of most IT companies, they have fallen quite a bit in the last one odd year. In fact, even the quarter four results and the guidance that has come out of the quarter four results have been particularly poor. And that said, we always have to weigh the outlook with the underlying valuations of the company.

At a time when equity markets are under pressure ahead of US & India inflation data, MarketSmith has a positive view on some stocks that it believes are near the buy point.

Indian hotel companies have been enjoying a winning streak on the stock market, with share prices of major players up by over 50% in the past year. Boosted by domestic leisure and corporate travel, international travel, sports tournaments and the recent G20 summit in India, the demand outlook is encouraging for further growth. Optimistic hoteliers have added more rooms to match the demand, resulting in a surge in occupancy rates. The aviation sector has also reported great results, with healthy growth potential ahead. Investors are advised to look to quality names within the theme, with the stock prices already factoring in a fast recovery.

Long Straddle and Long Strangle are option buying strategies used by traders in unpredictable events such as election results or company AGMs. For a long straddle, they buy an at-the-money call and an at-the-money put together, making a profit in a heavily rising or falling market. A long strangle, however, uses out-of-the-money options instead. The opposite of these strategies is a short straddle, selling at-the-money call and put to benefit only when the market is flat. It requires more capital and can be riskier than the long strategies.

In the past, Indian citizens preferred traditional saving options due to the high-risk perception of the equity market. But with the shift in technology and financial literacy coupled with low-interest rates, people started viewing the stock market as a way to earn a passive income. The COVID-19 pandemic has resulted in many entering the market for the first time and subsequently aiming to become a professional trader. To achieve this, individuals must gain a comprehensive understanding of financial markets, gain practical experience, create a trading plan, practice risk management, continuously learn, and have patience. Algo trading is fast becoming a popular trading mode but requires familiarity with programming languages like Python.