Overall shorts are coming out of the system, short-covering action is there in the market today, and we expect that upside momentum is likely to continue in the coming trading session. So, one should remain long with a stop loss, as mentioned, like 16,950 for Nifty and 38,400 for Bank Nifty.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest