Sensex-Nifty fell 0.25%, Bank Nifty lost 0.6% @ Investment idea

Yeln Janet's speech was the first Indian stock market sell-off mood. Nifty slipped below the 8580 close, the Sensex has slipped more than 50 points. The Fed Chairman's statement before the global market is visible in the mood to wait and watch. The world's eyes are fixed on Jackson Hole. Today's statement by Fed chairperson of this idea that the Fed will raise rates in September or in December.

The Sensex had lost 140 points today, the Nifty was missing about 50 points lower. Sensex had tanked by 27697 other hand Nifty was broken 8547.5. Up until today in the index was knocked 27935.88, and the Nifty was up by 8623. The Sensex finally closed around 27780, while the Nifty closed at 8570.

Investment Ideas

Buy JUSTDIAL future above 503 targets 508, 513, 518 Stop loss 497.

 Buy UBL Future above targets 838, 847, 854 Stop Loss 816.   

Sensex Nifty Continue To Consolidate, Bullion Market Up

Stock market opened marginally higher today but lost its profit in early trade. Equity benchmarks remained under pressure tracking weakness in Asian indices. BSE Sensex hikes 12 points to 27848 and Nifty hikes just 1.80 points to 8594. Rupee is trading with the strength of 3 paise at 67.02 against US Dollar. Asian market indices are trading lower. Nikkei lost 123 points to 16432, Hang Seng gains 124 points to 22939 and Shanghai composite with minor gains trading at 3085. Commodity market started on a good positive note. Gold hikes 51 points to 30979 while Silver has gained 194 points to 43853 till yet. Maximum sectors are trading in the negative zone. BSE Auto sector is leading of all the sectors with 93 points hike at 21197. Midcap sectors are trading lower in the negative zone. NCDEX market is showing negative movements. Rmseed dropped 26 points to 4622, Soyabean dropped 5 points to 3370, Dhaniya hikes 36 points to 7764 and Barleyjpr trading at 1529 with hike of 4 points.

Gold Silver Weekly Recommendation By Moneymaker

 The COMEX Gold futures edged up above $1360 per ounce in the middle of this month but flipped back as quick gains in US dollar hurt the sentiments for precious metals. Dollar edged up from its six week low of 1.1370 against the Euro after the Conference Board released a report showing that its index of leading US economic indicators rose for the second consecutive month in July. The Conference Board said its leading economic index climbed by 0.4% in July following a 0.3% increase in June. This pulled COMEX Gold down to almost $1340 per ounce mark. MCX Gold futures for October moved mostly in a sideways range, with highs above Rs 31500 per 10 gram levels constantly triggering selling pressure. The US Federal Reserve officials believed last month that near-term risks to the U.S. economy had subsided and that an interest rate increase could soon be warranted. But they did not indicate when they would likely raise rates. The minutes of their July 26-27 meeting showed that officials were encouraged by a rebound in job growth. They also took note of a stabilization of financial markets after a bout of turbulence triggered by Britain's June 23 vote to leave the European Union. The Fed officials believed those developments had lessened the risks for the economy in the short run. The minutes show that as a result, the officials thought a rate increase "was or would soon be warranted. But a key factor holding the Fed officials back was the stubbornly slow rate of inflation, which has been running below the central bank's 2% target for more than four years.

Indian Gold demand witnessed a lackluster performance over last few months. An extended strike by Jewelers and elevated price saw consumer demand for gold in India drop 18% year-on-year to 131 tons in the second quarter of calendar year 2016 (Q2CY16), according to the latest World Gold Council (WGC) report on gold demand trends for the second quarter of 2016. The five year average for local Gold demand is 219 tons. In dollar terms, the demand stood at $5304 Million, down 13% on year.