Mark Focus Market Support

Buoyed by a positive trend across most sectors and continued rally in metal stocks, domestic share indices started the session on a positive note.  the BSE Sensex was trading at 33,850, up 56 points, while the Nifty50 was ruling at 10,455, up 11 points. Metal stocks continued to gain on the back of rising global commodity prices. The Nifty Metal Index rose 0.5% in early trade, led by over 1% gains in shares of Vedanta and Welspun Corp. Shares of Tata Motors, which fell 1%, were the worst hit on Nifty50 as the company reported a 9.4% on-year fall in Jaguar Land Rover sales in the US to 11,394 units for December. Shares of SJVN soared over 15% to a lifetime high after the company said its board will meet on Monday to consider a proposal to buyback its fully-paid up equity shares. Barring the Nifty Auto Index, which fell 0.2% all other sectoral indices were 0.1-0.6% higher in early trade. The BSE Mid-cap and BSE Small-cap indices were up 0.60% and 0.41%, respectively. ...

wwww.thegrssolution.com Precious Metals are struggling to rally further as the market awaits the minutes of the December FED meeting. Gold futures are trading at 29230, up 68 points and Silver is at 39210, up 30 points currently. The 10-day rally in precious metals which saw both Gold and Silver gain by over 4 percent seems to be faltering as the market awaits the minutes from the December meeting to dissect the central bank’s plan on rate hikes in 2018. The US economy has strengthened significantly despite the stubbornly low inflation and struggling labour market but the FED members maintain their view that the economy warrants three rates hikes in the current year to keep the economy chugging at its current pace. The close above resistance at $1300 bodes well for prices and the short-term outlook is now positive but we expect prices to make another dip to $1300 before the second leg of the upside rally begins. On the lower side, a daily close below $1300 could see Gold come unde...