
The markets closed with gains for the third week in a row as the key indices posted gains while extending their technical rebound. The Nifty had a trending week; it trended higher most of the week. The volatility was largely absent, but the Indices stayed quite choppy on most days except the last day, where it remained flat. The volatility stayed largely subdued; the India VIX retraced by 1.98% to 14.14 on a weekly note. The trading range stayed wider; the Nifty oscillated in an 849-point range over the past five sessions. The headline index finally closed with a net weekly gain of 546.70 points (+2.27%). The markets have paused themselves at a crucial juncture. The Nifty has closed above the 50-DMA, which is presently at 24548. It is just a notch below the 100-DMA at 24707. This level also coincides with the 20-week MA placed at 24720 on the weekly timeframe. So, unless the Nifty closes well above 24720, we have to fairly take the zone of 24,700-24,750 as an immediate important resistance for the markets on a closing basis. For this technical rebound to extend, moving past and staying above 24750 would be necessary for the markets. On the other hand, the Nifty has rebounded off the 50-week MA; this level, placed at 23,432, is the most crucial support for the Nifty if it has to keep the current primary trend intact. Monday is likely to see a quiet start to the week; the levels of 24,750 and 24,900 are likely to act as resistance levels for the Nifty. The supports come in at 24,450 and 24,300 levels. 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The weekly MACD stays bearish and below its signal line. The PPO remains negative. The pattern analysis of the weekly charts shows that the Nifty has completed a painful process of mean reversion. At one point, the Index was trading over 10% above the 50-week MA; the current retracement saw the Nifty testing this level a couple of weeks ago. The 50-week MA test at 23463 offered strong support, and the market rebounded from those levels. Presently, the Index has closed just below the 100-DMA and 20-week MA. The up move after the Nifty took support at the 50-week MA has seen the Index rallying by over 1200 points. There is a possibility that Nifty may consolidate again for some time before it extends the current move. The banking and financial space is exhibiting strong relative strength . While this may continue, sectors like IT, Auto, Realty, etc., will likely show good momentum over the coming days. However, the Index is near its crucial resistance zone; this makes it necessary to guard profits at current levels. It is important that instead of chasing all-up moves, the prudent thing to do would be to mindfully protect gains and stay invested in the stocks showing improvement in their relative strength. A cautious approach is advised for the coming week. (In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.) ETMarkets.com Relative Rotation Graphs (RRG shows that the Nifty Bank Index has rolled inside the leading quadrant. It is expected to relatively outperform the broader markets along with the IT, Services Sector, and Financial Services Indices that are also present in this quadrant. The Nifty Midcap 100 index is improving relative momentum while being placed inside the weakening quadrant. The Nifty Pharma Index is also inside the weakened quadrant. The Nifty FMCG, Auto, Energy, Commodities, and Infrastructure Indices are inside the lagging quadrant. The Nifty PSE Index is also inside the lagging quadrant; however, it is seen improving its relative momentum against the broader markets. The Nifty Media Index has rolled back inside the improving quadrant. Besides this, the Metal, Realty, and PSU Bank Indices are also placed inside the improving quadrant. ETMarkets.com (Important Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.) (The author is CMT, MSTA, is a Consulting Technical Analyst and founder of EquityResearch.asia and ChartWizard.ae) (You can now subscribe to our ETMarkets WhatsApp channel )
BEIJING, Dec. 28, 2024 (GLOBE NEWSWIRE) -- Aqueous Film-Forming Foam (AFFF) has long been praised for its ability to extinguish fires swiftly, thanks to the inclusion of PFOS (Perfluorooctane Sulfonic Acid). Despite its effectiveness, the presence of PFOS has raised serious concerns about environmental pollution and potential risks to public health – according to a new article by China News Network. In an effort to address these issues, the Foreign Environmental Cooperation Center (FECO) of the Ministry of Ecology and Environment, in partnership with the World Bank and supported by the Global Environment Facility (GEF), has launched the "Reduction and Phase-Out of PFOS in Priority Sectors Project in China." This program aims to develop and implement safer, more sustainable alternatives for firefighting across the country. Beyond simply improving fire suppression technology, the initiative is designed to protect ecosystems, safeguard public health, and foster a greener future for generations to come. Through innovative research and collaborative action, China is making significant strides in managing and ultimately eliminating the use of PFOS in firefighting foam. PR Contact Name: Wen Tianxia Email: guojixinwenbu@chinanews.com.cn Phone Number: +86(010)68315046 A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65c26b6b-0ff4-4f12-9794-882d1f71bdb6 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.World News | Prospects for President Yoon's Impeachment Are Dim with Ruling Party Boycotting VoteAsked how Christmas has changed since having her son, she told BANG Showbiz: "I feel like I've always been obsessed with it but now more than ever, it's more magical, he just gets so excited and I love watching him get excited so I'm living vicariously with him, I just love it, it's so nice." This year, Perrie is planning a fairly simple celebration. She said: "Just staying at home with the family, nice cosy vibes, cooking dinner." The 'You Go Your Way' hitmaker praised her former bandmate Leigh-Anne Pinnock for her role in 'Boxing Day' but admitted her favourite Christmas movie will always be 'The Holiday'. She said: "First of all, my Leigh-Leigh killed it [in 'Boxing Day'], first time acting as well but I love 'The Holiday', that's when I'm ready, I'm putting that on." The 31-year-old beauty occasionally gets Axel involved in her social media posts but admitted it isn't as straightforward as she expected when it comes to persuading him to pose. She laughed: "Working with a three year old it's not easy, I thought it would be like 'Can you do this, or that', 'Can you look out the window?' And he was like 'Why?' And I was like, 'That's a good point - why?' So I found it hard to explain to him. "But Alex was up for it, anything to support the family - minus wearing pyjamas."
'There are 900 U.S. troops stationed there': Experts outraged after Trump's latest commentIs Costco Stock a Buy for 2025?NEW YORK/LONDON: Global stocks were down and major Wall Street indexes fell on Thursday (Dec 12) after the European Central Bank cut interest rates for a fourth time this year, and gold prices slid from a five-week high. European stocks finished lower in choppy trading after the European Central Bank cut interest rates and kept the door open to further easing in 2025 in the face of a struggling economy and heightened political risks. The Swiss franc weakened after the Swiss National Bank cut rates by half a point, its largest reduction in nearly 10 years. Markets had priced a good chance of a half-point cut in the run-up to Thursday's meeting. The US Labor Department's producer price index (PPI), which tracks the prices US companies get for their goods and services at the figurative factory door , jumped by 0.4 per cent, leap-frogging over the 0.2 per cent consensus and marking an acceleration from October's upwardly revised 0.3 per cent gain. The US dollar rose. Oil prices fell more than 1 per cent as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a US interest rate cut. MSCI's gauge of stocks across the globe fell 2.35 points, or 0.27 per cent, to 869.04. Wednesday's inflation reading showed the consumer price index (CPI) rose exactly in line with expectations in November, supporting bets for a Federal Reserve interest rate cut next week. "The market has essentially seen one of the last remaining obstacles that could derail sentiment out of the way," said Chris Weston, head of research at Pepperstone. "Seeing the coast somewhat clearer for the illustrious seasonal chase of returns to play out into year-end". Traders now place a 97 per cent chance on a quarter-point Fed cut on December 18. The Dow Jones Industrial Average fell 211.90 points, or 0.48 per cent, to 43,937.10, the S&P 500 fell 25.05 points, or 0.41 per cent, to 6,059.25 and the Nasdaq Composite fell 95.97 points, or 0.48 per cent, to 19,938.97. The pan-European STOXX 600 index closed down by 0.1 per cent, although rate-sensitive eurozone bank shares edged up 0.3 per cent. Traders were pricing in 125 basis points worth of interest rate cuts by the ECB end of 2025, according to data compiled by LSEG. "The ECB is on a direct path of consecutive quarter-point cuts until the deposit rate reaches 2 per cent. This market expectation is now being reinforced by even lower economic forecasts," said Jochen Stanzl, chief market analyst at CMC Markets. Emerging stocks rose 0.38 per cent.The yield on benchmark US. 10-year notes rose 5.3 basis points to 4.324 per cent, from 4.271 per cent late on Wednesday. CENTRAL BANK FOCUS The dollar index, which measures the greenback against a basket of currencies including the yen and the euro,rose 0.29 per cent to 106.86, with the euro down 0.12 per cent at US$1.0481. The greenback retreated against the yen after Reuters reported that BOJ policy makers were inclined to forgo a hike on December 19 and wait for more data on wages at the start of next year. The Australian dollar turned lower against the dollar. Earlier, it surged on unexpectedly strong employment data, rebounding from Wednesday's weakness following a Reuters report that Beijing is considering allowing the yuan to depreciate further next year. China is Australia's top trading partner and the Aussie is often used as a liquid proxy for the yuan. Although economists were almost unanimous in predicting Thursday's move by the ECB, many had acknowledged that a bigger cut would also be justified given a deteriorating growth outlook and rapidly retreating inflation. In commodities, spot gold fell 1.22 per cent to US$2,684.83 an ounce as investors took profits and squared positions ahead of next week's Fed meeting. US gold futures settled 1.7 per cent lower at US$2,709.40. Crude oil retreated after rallying this week on the threat of additional sanctions aimed at stifling Russian oil output. US crude settled down 0.4 per cent to US$70.02 a barrel and Brent fell to US$73.41 per barrel, down 0.15 per cent on the day.
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Shares of ZEEKR Intelligent Technology Holding Limited ( NYSE:ZK – Get Free Report ) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.25 and last traded at $31.84, with a volume of 480026 shares changing hands. The stock had previously closed at $29.73. Wall Street Analyst Weigh In ZK has been the topic of several analyst reports. Macquarie began coverage on ZEEKR Intelligent Technology in a report on Thursday, October 3rd. They issued an “outperform” rating and a $33.00 target price on the stock. CICC Research assumed coverage on ZEEKR Intelligent Technology in a research report on Friday, October 25th. They issued an “outperform” rating and a $31.74 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.02. Get Our Latest Research Report on ZEEKR Intelligent Technology ZEEKR Intelligent Technology Trading Down 9.6 % Institutional Trading of ZEEKR Intelligent Technology A number of hedge funds have recently bought and sold shares of ZK. Sandia Investment Management LP bought a new stake in shares of ZEEKR Intelligent Technology during the 2nd quarter valued at about $94,000. Barclays PLC boosted its holdings in shares of ZEEKR Intelligent Technology by 28.5% in the third quarter. Barclays PLC now owns 9,456 shares of the company’s stock worth $211,000 after buying an additional 2,097 shares during the last quarter. Green Alpha Advisors LLC bought a new stake in ZEEKR Intelligent Technology during the third quarter valued at approximately $219,000. Marshall Wace LLP bought a new stake in ZEEKR Intelligent Technology during the second quarter valued at approximately $347,000. Finally, WT Asset Management Ltd purchased a new stake in ZEEKR Intelligent Technology during the third quarter valued at approximately $446,000. ZEEKR Intelligent Technology Company Profile ( Get Free Report ) ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of the electric vehicles and batteries. It offers battery electric passenger vehicles (BEVs) and SUVs. The company also produces and sells electric powertrain and battery packs for electric vehicles, such as motors and electric control systems; and provides automotive related research and development services. Further Reading Receive News & Ratings for ZEEKR Intelligent Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZEEKR Intelligent Technology and related companies with MarketBeat.com's FREE daily email newsletter .6 Habits to Stop in the New Year if You're Trying to Lose WeightNoneWhy I’m keeping my 2004 beater with 315,000 miles
Anyone scouring the internet for holiday deals is likely to encounter more conversational versions of the chatbots that some retailers and e-commerce sites have built to provide shoppers with enhanced customer service. Some companies have integrated models infused with newer generative AI technologies, allowing shoppers to seek advice by asking naturally phrased questions like, “What’s the best wireless speaker?” Retailers hope consumers use these chatbots, which are typically called shopping assistants, as virtual companions that help them discover or compare products. Prior chatbots were mostly used for task-oriented functions such as helping customers track down online orders or return ones that didn’t meet expectations. Amazon, the king of online retail, has said its customers have been questioning Rufus – the generative AI-powered shopping assistant it launched this year – for information such as whether a specific coffee maker is easy to clean, or what recommendations it has for a lawn game for a child’s birthday party. And Rufus, which is available for holiday shoppers in the US and some other countries, is not the only shopping assistant out there. A select number of Walmart shoppers will have access this year to a similar chatbot that the nation’s largest retailer is testing in a few product categories, including toys and electronics.