MORNING TREND

2AB962E500000578-0-image-a-44_1445375138939
GOLD
SUPPORT: 28700/28850
RESISTANCE: 29150/29350
TREND: SIDEWAYS
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SILVER
SUPPORT: 35900/36250
RESISTANCE: 36650/36950
TREND: SIDEWAYS
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CRUDE OIL
SUPPORT: 2460/2500
RESISTANCE: 2560/2600
TREND: UP
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COPPER
SUPPORT: 301/305
RESISTANCE: 309/313
TREND: DOWN
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MARKET COMMENTARY 7 APRIL 2016

Equity Benchmarks ended sharply lower by 1 percent today, dragged by index heavyweights HDFC, Infosys, ITC and L&T. The Sensex dropped 215.21 points to 24685.42 and the Nifty fell 67.90 points to 7546.45. The market breadth also turned negative in last hour of trade as about 1448 shares declined against 1107 advancing shares on Bombay Stock Exchange. European markets were down marginally on fall in oil prices and ahead of European Central Bank meeting.
Tata Steel is planning to sell its UK arm in one go, rather than in parts. Already, three strategic buyers are said to be keenly interested in the Tata asset. Liberty House‚Äôs Sanjeev Gupta is in the fray of potential buyers. It is understood the valuation of the deal will be clear only by next week. Greybull Capital may also explore options to buy the entire plant. No formal bid, however, has been submitted yet. Talks are believed to be at an exploratory stage. Formal expressions of interest for Tata Steel’s UK biz are likely to be sent next week.
Equity benchmarks extended losses again. The Sensex plunged 238.71 points or 0.96 percent to 24661.92 and the Nifty fell 74.05 points or 0.97 percent to 7540.30.
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MORNING TREND

GOLD
SUPPORT: 28350/28500
RESISTANCE: 28850/28950
TREND: SIDEWAYS

SILVER
SUPPORT: 35550/35800
RESISTANCE: 36250/36400
TREND: SIDEWAYS

CRUDE OIL
SUPPORT: 2460/2500
RESISTANCE: 2520/2560
TREND: SIDEWAYS

COPPER
SUPPORT: 309/313
RESISTANCE: 317/321
TREND: SIDEWAYS
www.ripplesadvisory.com
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