Positive trend until 19th July and Chandrayaan 3 Launch

The Indian and US stock markets are expected to sustain a positive trend accompanied with volatility until the 19th of July 2023. However, from the 20th of July 2023 (+/- 1 day), a trend reversal becomes a possibility.

Bullion

Silver had a significant rally in the previous session –it crossed the key resistance at 25. Once it is above 25.30 then it can move up to 26. Gold made a high of 1967 in today’s Asian hours. Gold has support at 1950 and may move up to 1980.

For today’s session, Gold may move higher until 14.00-15.00 HRS. This shall be followed by a correction. Accumulate long position in Gold at the dip around US opening. From there, it may move higher. In the closing hour, a profit booking is possible. Gold is positive for next Monday.

Overall view remains bullish on precious metals.

Agro

Soybean/Mustard/Groundnut Oil shall witness an upward rally from the next week. A major uptrend shall be visible in Soybean and Mustard oil until August end. Sugar shall turn bullish from next week. From 25 July, a one-sided upward rally is indicated in Sugar until 15 September. Cotton shall also show positive trend from the next week until 9 August. 10-19 August shall be mixed for Cotton. Pulses shall exhibit an uptrend from next week until 27 August (this uptrend shall gradually amplify).

Chandrayaan 3 Launch

The launch of Chandrayaan-3 today from Sriharikota, Andhra Pradesh marks a historic milestone as India’s third lunar mission and the first attempt to land a spacecraft on the unexplored lunar south pole. This mission holds great potential for significant scientific discoveries, considering that no other country has ventured into this region. It showcases the expanding capabilities of India’s space program, making India one of the select few nations with the capacity to launch lunar missions. This achievement is a testament to India’s advancing scientific and technological prowess.