Breaking
Big Capital Trend
Author

admin

Browsing
Latest News

Woman accused of killing in-laws with toxic mushrooms takes stand for first time

Erin Patterson, the Australian woman accused of killing three people and attempting to kill a fourth with a meal laced with death cap mushrooms, has taken the stand in her own defense at a trial that has captured worldwide attention.

On Monday, the start of the sixth week of the trial, Patterson told the court about her relationship with her estranged husband Simon, whose parents, Don and Gail Patterson, were among the guests who died after attending lunch at her house in July 2023.

Gail’s sister, Heather Wilkinson, also died after eating Beef Wellington at lunch, but her husband, Ian Wilkinson, a pastor at their local church, survived after spending several weeks in hospital with acute poisoning from Amanita phalloides, the world’s most toxic mushrooms.

Prosecutors allege that Patterson, who has pleaded not guilty to all charges, deliberately laced the beef dish with lethal mushrooms, after seeing their location posted on a public website. Her defense lawyers argue the deaths were a “terrible accident,” and while they acknowledge Patterson, 50, repeatedly lied to police, they say she didn’t intend to kill her guests.

The mother of two told the court that her relationship with her husband was merely “functional” in July 2023, and that she had started becoming concerned that he wasn’t involving her in family gatherings anymore.

Her self-esteem was low, and she was so unhappy with her weight that she was considering gastric bypass surgery, she told the court.

“I’d been fighting a never-ending battle of low self-esteem most of my adult life, and the further inroads I made into being middle aged, the less I felt good about myself,” she said.

How Erin Patterson met her husband

Patterson’s defense attorney Colin Mandy SC asked her about the start of her relationship with Simon Patterson, the father of their two children. Patterson told the court she met Simon in 2004 at work at Monash City Council, in the Australian state of Victoria. They were friends at first, before a romance developed several months later.

They married in 2007, at a service attended by Don and Gail Patterson and Ian and Heather Wilkinson. Erin’s parents were on holiday when she got married, so Ian Wilkinson’s son David walked her down the aisle, she told the court.

Patterson said she was “very atheist” when she met Simon. “I was trying to convert him to being an atheist, but things happened in reverse, and I became Christian,” she told the court.

She said she had a “spiritual experience” during her first church service in 2005 at Korumburra Baptist Church, where Pastor Ian Wilkinson delivered the sermon. “I had what I would call a religious experience there, and it quite overwhelmed me,” she said

A traumatic birth

Patterson recalled the traumatic delivery of her first child, who was born by emergency cesarian, after an attempt with forceps failed. Her son spent some time in the intensive care unit, and Patterson said she discharged herself against medical advice so she could go home to be with her newborn.

Patterson spoke about the support Simon’s mother Gail gave her as she cared for her son. “She gave me good advice … relax and enjoy your baby,” she said.

When they were living in Perth, Western Australia, the couple briefly separated for the first time. In 2009, Patterson rented a cottage for herself and their baby, she told the court, while her husband rented a trailer close by. They reunited in January 2010. A second baby came later.

During the course of their relationship, Patterson told the court there were periods of separation.

“What we struggled with over the entire course or our relationship… we just couldn’t communicate well when we disagreed about something,” she said. “We could never communicate in a way that made each of us feel heard or understood, so we would just feel hurt and not know how to resolve it.”

Patterson will resume giving evidence on Tuesday.

This post appeared first on cnn.com

Keep Reading
Latest News

Drone strikes ahead of Russia-Ukraine peace talks leave Trump’s credibility hanging by a thread

It was already hard to imagine a breakthrough emerging from the direct talks between Russia and Ukraine set to be renewed in Istanbul on Monday.

But in the aftermath of what appear to have been multiple large-scale Ukrainian drone strikes against strategic bases across Russia, it’s even less likely either side will be prepared to shift their red lines.

Even before the latest strikes, which targeted Russian strategic aircraft thousands of miles from the Ukrainian border, the Kremlin had declined to formally set out, in the form of an agreed-to memorandum, what exactly it wants in return for ending what it refers to as its “Special Military Operation”.

But Russian officials have made no secret about their hardline terms, including sovereignty over all annexed territories, the demilitarization of Ukraine, immediate sanctions relief and what the Kremlin calls “de-Nazification”, involving things like guaranteeing the rights of Russian-speakers.

Concerns about further NATO expansion toward Russian borders – especially Ukraine, but other countries too – have also been a consistent Kremlin grievance, as has the fate of hundreds of billions of dollars in frozen Russian assets abroad.

There’s been speculation in the Russian and Western media about areas for possible negotiation, and the outcome of the Istanbul talks are being closely watched for any hints of flexibility.

But in the aftermath of what appears to have been a spectacular Ukrainian success, talk of Kremlin compromises may, for the moment, be off the table.

Ukraine goes into this second round of direct talks bolstered by its apparent destruction of Russian strategic bombers and other crucial air assets.

On Sunday, President Volodymyr Zelensky set out some of Ukraine’s positions, including an unconditional ceasefire and the return of Ukrainian children taken to Russia.

But Russian demands for Ukrainian forces to withdraw from territory it claims but has not even conquered remain unpalatable, even more so now Ukraine has shown it can still strike deep behind the front lines.

Even before the latest Ukrainian drone strikes, amid preparations for the peace talks in Istanbul, Russia was stepping up attacks on Ukraine in what seems to be the early stages of a new summer offensive.

Overnight Saturday, Russia launched its largest drone attack on Ukraine since the beginning of the war – involving 472 drones. On Sunday, a Russian missile strike killed at least 12 people and wounded more than 60 at a training site for the Ukrainian military.

As all this unfolds, an increasingly frustrated US President Donald Trump, who used to brag he could end the Ukraine war in short order, is now watching from the sidelines as a cornerstone of his stated foreign policy looks decidedly shaky.

Neither his pressure on the Ukrainian leader, who Trump lambasted in the Oval Office, nor his recent scolding of the Kremlin ruler appear to have pushed the two sides any closer to a peace deal.

Trump still has powerful levers to pull if he chooses, like imposing tough new sanctions, such as those overwhelmingly supported in the US Senate, or adjusting US military aid in a way that would dramatically increase the costs of fighting on. The measures may not be decisive, but they would send a message of US commitment.

What Trump says he is tempted to do, though, is simply walk away from the whole mess. This is Biden’s war, he insists, or Putin’s and Zelensky’s.

But walking away – and it is unclear what that means in terms of US policy – may no longer be an option. At least not walking away unscathed.

His own insistence on ending the Ukraine conflict, along with his personal interventions with the Ukrainian and Russian leaders, means that Trump and the United States are now inextricably linked with the outcome.

That’s why events on the battlefield and at the negotiating table in Istanbul are being watched so closely.

Despite his regular attempts to disown it, the Ukraine war has very much become Trump’s war on which US credibility now hangs by a thread.

This post appeared first on cnn.com

Keep Reading
Investing

Lithium Universe LtdSpodumene Offtake Update

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to provide an update of its project development since the launch of the Becancour Lithium Refinery Definitive Feasibility Study in February 2025. The Board and management continue to advance the project by attempting to secure spodumene feedstock supply for its Becancour Lithium Refinery.

Highlights

– Discussions with multiple spodumene concentrate producers-both operational and near-term developers

– Substantial benefits (transport costs and tariffs) to supplying local convertor

– Supply estimated to commence around 2028

– Targeting 140,000 tpa SC6 spodumene supply once ramped up

– LU7 intends to purchase spodumene ore at benchmark prices from the market

– Targeting minimum supply of 10 years for project finance

The Company, as stated previously, have been in discussions with multiple spodumene concentrate producers-both operational and near-term developers-regarding long-term feedstock supply agreements for the Becancour Lithium Refinery. In these discussions, these parties recognise a real benefit in potentially supplying their spodumene product to a local lithium converter as opposed to shipping and selling their spodumene to Chinese operations for conversion. The spodumene transport costs could be as high as US$100 per dmt which represents US$800-900 per tonne of finished lithium carbonate product. If the final lithium carbonate must be shipped back to North America that adds another approximately US$200 per tonne of final product. Today, Canada has an import tariff of 25% on all Chinese lithium chemicals so the local conversion is an overriding advantage.

In these discussions, the Company is targeting a non-binding MoU for the full supply of 140,000 tonnes per annum for SC6 grade spodumene material. The target tonnes will proportionally increase if the grade is less than 6% LiO2. The supply agreement could be converted to a definitive agreement when the refinery becomes

funded, and construction commences. Ideally, LU7 is targeting a spodumene feed supply to be at least 10 years and rolling 5 years, to give security of supply for project financing. In these discussions, the Company is targeting supply commencing around 2028 at approximately 56,000 tonnes per year. The required supply tonnage will increase to 98,000 tonnes in 2029 and reach full capacity at 140,000 tonnes per annum from 2030 onward. The spodumene supply is targeted to be delivered to the Becancour Lithium Refinery storage shed on site. Whilst spodumene supply could be from anywhere in the North Atlantic region (including Brazil and Africa), a strategic domestic Canadian feedstock source would mitigate the Company’s risks and logistical challenges of overseas shipments and foreign processing. It is proposed that the spodumene concentrate will be refined into approximately 18,270 tonnes per annum of battery-grade lithium carbonate (as per DFS), supporting the expansion of Canada’s electric vehicle (EV) and energy storage industries.

LU7 intends to purchase spodumene ore at benchmark prices from the market, and LU7 will retain full ownership of the resulting lithium carbonate, with the right to sell it either to the open market at benchmark prices or directly to an OEM offtaker. To clarify, the Company is not searching for a tolling arrangement.

Executive Chairman Iggy Tan said ‘There are several interested potential spodumene suppliers that could meet the 2028 timeframe and discussions are ongoing. There is real interest in the market. The Company will continue to keep the market informed concerning progress of these discussions and negotiations. Once we can secure feedstock supply for the refinery the focus will shift to getting a strategic OEM on board the project in exchange for the valuable battery grade lithium carbonate offtake’.

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Investing

Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

Canada’s mining sector is gaining momentum, with over 130 projects with a total value of C$117.1 billion now planned or in construction, according to Natural Resources Canada’s 2024 inventory. That’s an increase of nine projects and C$23.5 billion from the previous year, signaling strong interest in resource development.

Yet despite this growth, the path to production remains slow. A study published in FACETS and cited by the Mining Association of Canada shows that the average timeline from discovery to production exceeds 17 years, highlighting the pressing need to streamline Canada’s complex and often lengthy permitting process.

Although miners, explorers and developers have long criticized the decades-long process, Canada’s federal and provincial governments have only recently begun working to expedite the process in an effort to harness the country’s vast critical minerals potential and assert the nation’s dominance in resource extraction.

The federal government has committed to expediting and streamlining the permitting process, laying out ambitious targets in its 2024 budget. Those goals include completing federal impact assessments and permitting for designated mining projects within five years, and within two years for non-designated projects.

Achieving these targets will involve establishing a federal mining permitting coordinator, enhancing funding for federal review authorities and promoting concurrent regulatory reviews to reduce duplication and delays

Provincial governments also play a significant role in mining project approvals.

A May 2025 report from the Mining Association of BC, outlines the economic potential of 27 advanced-stage mining projects in the province totaling more than C$90 billion. The projects highlighted in the report are described as new; however, there are several past-producing assets that are being offered a new lease on life.

One of those projects is Blue Lagoon Resources’ (CSE:BLLG,OTCQB:BLAGF) Dome Mountain gold project.

Located 50 minutes from Smithers, the 22,000 hectare property hosts the historic Dome Mountain mine, where past exploration and development were focused on the Boulder Vein, initially discovered in the 1980s.

In February, Blue Lagoon secured the final permit needed to advance its Dome Mountain project, clearing the way for production to begin in Q3 2025. The permit — one of just nine mining permits granted in BC since 2015 — marks a significant milestone for the junior miner, and positions the company to transition from an explorer to a gold and silver miner.

The path to production at Dome Mountain

Although Dome Mountain was in production between 1980 and 1993 under different management, securing permits to restart activity at the 30 year old brownfield proved as complex as starting up a greenfield project.

“It wasn’t easy at all,” said Vig. “They say that it takes over 15 years to get a mine permit in BC, and people are congratulating us that we got it in just under five. And personally, I thought it was four years too late.”

He went on to note, “Imagine being in any business that you have to wait. You know, you open up your restaurant, but then you have to wait for five years to open it. I mean, it’s incredibly difficult to get a mining permit”

Indeed, BC has one of Canada’s longest permitting processes. A 2019 report from Resource World notes that it takes six months on average to get an exploration permit in Canada. However, in BC, it can take 15 to18 months.

National and provincial critical minerals strategies have been established over the last six years, and parties on both sides of the aisle have promised policy reforms. But Vig underscored the challenges that remain.

“I think we want to believe that,” he said of the notion that the permitting process will be expedited through the critical minerals push. “I think the politicians are certainly saying that, but I’m not so confident that the execution can be there,” he continued. “Because, you know, you’ve got many factors. You’ve got the infrastructure of the government itself, the bureaucracy. There are only so many people that are able to process these applications.”

Indigenous consultation and permitting with purpose

A key requirement in the permitting process is Indigenous community consultation, engagement and approval, an area provincial governments have struggled to seamlessly integrate into the process.

For Blue Lagoon, communication and consultation with the Lake Babine Nation started early and remains a key tenet.

The Lake Babine Nation is one of BC’s largest Indigenous communities, with over 2,500 registered members. Its traditional territory surrounds Babine Lake, the province’s longest natural lake.

“We have a great relationship with the Lake Babine Nation,” said Vig. “You know, honestly, it was a very simple process. It’s a philosophy, that is very rudimentary, certainly in my culture.” Vig, who is of Indian heritage, moved to Canada in 1972 with his family, credits those formative years for fostering his deep sense of respect.

“My whole upbringing is all about respect. So for us, it was very simple — respect the people, respect the land,” he said, adding that a lot of it was common sense. “Protect the water, protect the land and make sure you don’t damage it as you go along (are) good practices (for) any business,” Vig emphasized.

Water conservation and protection is especially important to Blue Lagoon, an issue Vig described as “a way of life” due to its significance for fishing and cultural practices.

‘You don’t wait to be asked — you take the initiative to understand what matters most,” he said.

As he explained, provincial regulatory requirements called for water testing at five sites along a specific stream, and Blue Lagoon chose to conduct testing at nine locations instead.

“It’s really unheard of in our industry, to the best of my knowledge. We didn’t just do what was required of us. We like to go above and beyond to make sure. And when you do things like that, I think the sincerity comes across,” he said.

Financing in a tough market

Another challenge junior miners are facing is accessing funding. Investors who once used added liquidity to the space have moved to other sectors like tech, leaving mining coffers on the decline.

Blue Lagoon has been fortunate in terms of capital raising; the company completed the final tranche of its most recent private placement in late April, raising C$2.23 million through the issuance of 8.9 million units at C$0.25 each.

The full offering brought in C$4.87 million over four tranches, fully funding Dome Mountain to production.

Blue Lagoon’s ability to fast track its permitting and funding process were praised by mining committee chair Yannis Tsitos, who has more than two decades of experience in the mining sector working for companies like global commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP). Drawing on his history with large-scale operations, Tsitos described the Blue Lagoon’s approach as unusually nimble and disciplined.

“We haven’t cut a single corner,” he said, noting that while major players can afford to raise hundreds of millions upfront, most juniors must build organically. “What’s impressive is how this team — led by Rana — used creativity and persistence to move forward without delay,” he added. “It’s not about size; it’s about profitability and execution.”

He emphasized that Dome Mountain’s 15,000 ounce per year potential is just the beginning.

“Every major company started with one mine,” said Tsitos. “This could be the first step in something much bigger, and it’s happening right here in BC, which is hungry for investment.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Investing

Ore Reserve Quadruples for Rhyolite Ridge Project; Reaffirms Robust Project Economics

Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.

  • Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
  • Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
  • Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
  • Stable co-product – boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
  • All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
  • Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%

The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:

  • 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
  • Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)

“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”

By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).

The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.

The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.

Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.

The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
Investing

Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

Harmony Gold Mining Company’s (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).

MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.

The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.

“(This acquisition) is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said Harmony Gold CEO Beyers Nel in a Tuesday (May 27) press release.

“The operation is a logical fit with the portfolio given it meets Harmony’s core investment criteria, including increasing free cash flow generation while improving margins at long-term expected commodity prices.”

Located 700 kilometers west-northwest of Sydney in the Cobar region, CSA has a history that stretches back at least 150 years. Its reserve life stands at over 12 years, and it has maintained a stable resource over the last decade.

Harmony believes CSA will be a valuable addition to its sole Australian asset, Eva, in Northwest Queensland. Harmony acquired Eva in December 2022, and believes it is set to become the state’s biggest copper mine.

According to the company, Eva and CSA could together boost its copper production on the east coast of Australia to 100,000 metric tons annually over the course of the next five years.

The transaction remains subject to certain conditions, but MAC’s board has unanimously recommended that shareholders vote in favor of the scheme. Should everything follow to schedule, the deal is expected to close in Q4.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Stock

Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

Discover the top 10 stock charts to watch this month with Grayson Roze and David Keller, CMT. From breakout strategies to moving average setups, the duo walk through technical analysis techniques using relative strength, momentum, and trend-following indicators.

In this video, viewers will also gain insight into key market trends and chart patterns that could directly impact your trading strategy. Whether you’re a short-term trader or a long-term investor, this breakdown will help you stay one step ahead.

This video originally premiered on May 30, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

Keep Reading
Stock

Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

Over the past five sessions, the Indian equity markets headed nowhere and continued consolidating in a defined range. In the previous weekly note, it was categorically expected that the markets might stay devoid of any directional bias unless they either take out the upper edge or violate the lower edge of the consolidation zone. In line with the analysis, the Nifty oscillated in a 401.90-point range over the past five days. The volatility also retraced; the India Vix came off by 6.95% to 16.08 on a weekly basis. While staying absolutely range-bound, the headline index Nifty 50 closed with a minor weekly loss of 102.45 points (-0.41%).

As we step into the new week, the markets find themselves in a defined trading range, more toward the edge of the pattern support on the weekly chart. The Nifty appears to continue being in a well-defined trading range between 25100 and 24500 levels. This also implies that a directional trend would emerge only if the Nifty takes out 25100 convincingly or ends up violating the 24500 level. Unless either of these two things happens, the markets will remain devoid of directional bias and will continue staying in this defined range. The present technical structure makes it even more important to maintain a steadfast focus on protecting profits at higher levels and the rotation of sectors where a likely leadership change is visible.

The coming week is expected to see the levels of 25000 and 25175 acting as resistance points. The supports come in at 24500 and 24380 levels.

The weekly RSI is at 59.02; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line.

The pattern analysis shows that after forming the most recent swing high at 25116, the Nifty has resisted this level for two subsequent weeks. This makes the level of 25100-25150 an important hurdle for the Nifty. Secondly, the Index has closed just at the support of an upward rising trendline; if this gets violated, the markets may see some more corrective retracement. Overall, the zone of 24500-24600 remains a crucial support area for the markets.

While the Nifty stays in the 25100-24500 zone and consolidates, focusing on protecting profits at higher levels would be wise. While the market keeps its underlying trend intact, it continues to remain prone to some extended corrective retracement until the levels of 25100 are taken out on the upside convincingly. During this phase, it makes more sense to keep leveraged exposures at modest levels and stay highly selective in making fresh purchases. While limiting the purchases to favorably rotating sectors, a cautious outlook is recommended for the coming week.

Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. 

Relative Rotation Graphs (RRG) show that the Nifty PSU Bank Index is the only Index inside the leading quadrant that continues to improve its relative momentum against the broader markets. The other sectors present inside the leading quadrant are PSE, Infrastructure, Consumption, and FMCG, and these groups show continued paring of relative momentum against the broader markets.

The Nifty Commodities and the Nifty Bank Index have rolled inside the weakening quadrant. The Financial Services and the Services sector Indices are also inside the weakening quadrant.

The Nifty Metal Index has rolled inside the lagging quadrant. It is likely to relatively underperform along with the Pharma Index which also continues to languish inside this quadrant. The IT Index is also inside the lagging quadrant, but is seen sharply improving its relative momentum against the broader markets.

The Realty, Media, Energy, Midcap 100, and Auto Indices are inside the improving quadrant. They are likely to continue improving their relative performance against the broader Nifty 500 Index.

Important Note: RRG 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.  

Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae

Keep Reading
Latest News

Trump’s foreign policy frustrations are piling up

Every president thinks they can change the world – and Donald Trump has an even greater sense of personal omnipotence than his recent predecessors.

But it’s not working out too well for the 47th president. Trump might intimidate tech titans to toe the line and use government power to try to bend institutions like Harvard University and judges, but some world leaders are harder to bully.

He keeps being ignored and humiliated by Russian President Vladimir Putin who is defying the US effort to end the war in Ukraine. Russian media is now portraying Trump as the tough talker who always blinks and never imposes consequences.

The president also thought that he could shape China to his will by facing down leader Xi Jinping in a trade war. But he misunderstood Chinese politics. The one thing an authoritarian in Beijing can never do is bow down to a US president. US officials say now they’re frustrated that China hasn’t followed through on commitments meant to deescalate the trade conflict.

As with China, Trump backed down in his tariff war with the European Union. Then Financial Times commentator Robert Armstrong enraged the president by coining the term TACO trade — “Trump Always Chickens Out.”

Everyone thought that Trump would be on the same page as Benjamin Netanyahu. After all, in his first term he offered the Israeli prime minister pretty much everything he wanted. But now that he’s trying to broker peace in the Middle East, Trump is finding that prolonging the Gaza conflict is existential for Netanyahu’s political career, much like Ukraine for Putin. And Trump’s ambition for an Iranian nuclear deal is frustrating Israeli plans to use a moment of strategic weakness for the Islamic Republic to try to take out its reactors militarily.

Powerful leaders are pursuing their own versions of the national interest that exist in a parallel reality and on different historical and actual timelines to shorter, more transactional, aspirations of American presidents. Most aren’t susceptible to personal appeals with no payback. And after Trump’s attempts to humiliate Ukrainian President Volodymyr Zelensky and South African President Cyril Ramaphosa in the Oval Office, the lure of the White House is waning.

Trump spent months on the campaign trail last year boasting that his “very good relationship” with Putin or Xi would magically solve deep geopolitical and economic problems between global powers that might be unsolvable.

He’s far from the first US leader to suffer from such delusions. President George W. Bush famously looked into the Kremlin tyrant’s eyes and “got a sense of his soul.” President Barack Obama disdained Russia as a decaying regional power and once dismissed Putin as the “bored kid in the back of the classroom.” That didn’t work out so well when the bored kid annexed Crimea.

More broadly, the 21st century presidents have all acted as though they’re men of destiny. Bush came to office determined not to act as the global policeman. But the September 11 attacks in 2001 made him exactly that. He started wars in Afghanistan and Iraq — which the US won, then lost the peace. And his failed second term goal to democratize the Arab world never went anywhere.

Obama tried to make amends for the global war on terror and travelled to Egypt to tell Muslims it was time for “a new beginning.” His early presidency pulsated with a sense that his charisma and unique background would in itself be a global elixir.

Joe Biden traveled the globe telling everyone that “America is back” after ejecting Trump from the White House. But four years later, partly due to his own disastrous decision to run for a second term, America — or at least the internationalist post-World War II version – was gone again. And Trump was back.

Trump’s “America First” populism relies on the premise that the US has been ripped off for decades, never mind that its alliances and shaping of global capitalism made it the most powerful nation in the planet’s history. Now playing at being a strongman who everyone must obey, he is busily squandering this legacy and shattering US soft power — ie. the power to persuade — with his belligerence.

The first four months of the Trump presidency, with its tariff threats, warnings of US territorial expansion in Canada and Greenland and evisceration of global humanitarian aid programs show that the rest of the world gets a say in what happens too. So far, leaders in China, Russia, Israel, Europe and Canada appear to have calculated that Trump is not as powerful as he thinks he is, that there’s no price for defying him or that their own internal politics make resistance mandatory.

This post appeared first on cnn.com

Keep Reading