Stock Market Newsletter:
The market opens at a record high once again. The Nifty hits 8500 in opening for first time. The 50-share index is at 8510, up 31.70 points while the Sensex is at 28461.77, up 120.46 pts.
Metal stocks are up with Sesa, Hindalco and Tata Steel as major gainers. Infosys and Tata Motors are other gainers. Bajaj Auto, ITC, NTPC, HUL and Dr Reddy's Labs are among the losers.
The Indian rupee opened higher by 7 paise at 61.69 per dollar on Monday versus 61.76 Friday.
Today Stock Recommendation
CapitalHeight’s Stock recommendation for 24/11/2014 is ITC ltd. In today’s trading session it was up by 1.65%. Its long term trend is up. On the daily chart, it was consolidating since last few days but today it was highly up and it may give upside breakout if it crosses 380 level. RSI and MACD has also given buying confirmation. On daily its short term support level is 368. All the indicators are suggesting that one can go for long position in this stock above 380 level. The stock may test level of 391-405 in coming days.
Our recommendation on ITC ltd. is LONG above 380 for the Target of 390-395.
Commodity Market Newsletter:
• Gold futures for December delivery climbed 0.6 percent
• Silver futures for March delivery gained 1.6 percent
• Nickel headed for a second weekly advance
• On the LME, aluminum, lead and zinc rose
• Copper in London climbed 0.2 percent to $6,680 a ton
Gold and silver futures rose to three-week highs after China cut benchmark interest rates to support economic growth, boosting demand for precious metals as a store of value. The metal has climbed 6 percent after touching a four-year low on Nov. 7 amid increased demand for coins and jewelry, combined with signs that nations are boosting reserves. Central banks may raise purchases by as much as 22 percent in 2014, the World Gold Council estimates. Nickel headed for a second weekly advance after Indonesia reaffirmed its ore export ban and as data shows the global surplus has narrowed from last year.
Money CapitalHeight is an ISO 9001-2011 Registered Company. We are a leading Research Company, having a strong hold in providing most authentic and accurate stock and Commodity market tips.Visit our Site www.capitalheight.com for Accurate stock tips,commodity tips,mcx tips,nifty future tips & Premium services or call at 0731-6615050,9993066624.