INDIA 50 USD

The polarisation in India’s stock market continued amid the rally in equities in the past two years. Out of the top 100 domestic stocks in terms of market capitalisation, 50 underperformed the benchmark Nifty in the period

Technical analysis:
From the overview of price in India 50, we could see that price has been in a long time range after an initial impulsive move to the upside. Price is currently testing the support zone between 16770 and 16615 before a possible move to the upside. The RSI is almost oversold and a double bottom of price will be an added confirmation.

XAUUSD

Gold prices tanked on Thursday, bucking the global cues, as the Federal Reserve’s commentary spooked the bullion market. The yellow metal was trading near recent lows.
The Federal Reserve decided on March rate hikes that pushed up US Treasury yields and the dollar, while uncertainty over Ukraine capped bullion’s losses.

Technical analysis:
The overall trend for price seems to be bullish. Price is currently at the support zone between 1820 and 1810 which has a confluence with the 50 EMA. Price is likely to continue higher after the retest. The RSI and MACD are above the centreline which indicates price continuation to the upside.

EURNZD

Technical analysis:
The overall trend of price in EURNZD is bullish. Price has clearly broken out of the resistance zone between 1.68900 and 1.68353 to the upside. We could see that price seems to have formed a head and shoulder pattern and we should anticipate a retest of the neckline after price test the next resistance zone between 1.71424 and 1.70709. The RSI is overbought and we should anticipate a reversal soon.