Gold Price Reaches $4,059 Amid Concerns Over U.S. Economic Stability and Investor Optimism

Gold has reached a peak of $4,059 (approximately Rs 12,50,800), underscoring its status as a reliable safe haven. This rise is attributed to concerns over a potential U.S. government shutdown and its economic impact. Investor sentiment remains optimistic ahead of Diwali and Dhanteras, with expectations that gold will benefit from U.S. interest rate reductions, a weaker dollar, and ongoing geopolitical tensions.

Riyank Arora, a technical analyst at Mehta Equities Ltd., suggests diversifying portfolios by investing in top stocks alongside gold. He highlights five stocks, including SBI and M&M, as promising options for investors during the festive season. These recommendations come amid easing geopolitical tensions in the Middle East and ongoing trade discussions between the U.S. and India.

Bharti Airtel is showing strong upward momentum with an RSI of 60 and a positive MACD crossover. The stock is consolidating above the ₹1900-1970 demand zone, indicating healthy accumulation. A sustained move beyond recent highs could push it toward ₹2600, while ₹1900 serves as a key support level and ideal re-entry point on dips.

The State Bank of India (SBI) remains firm above its accumulation base between ₹820-880. With an RSI of 58, the stock reflects steady bullish momentum. Staying above crucial moving averages enhances the likelihood of a breakout toward ₹1200. A decisive move past ₹880 can confirm the uptrend, while ₹820 remains a strong support level for fresh accumulation.

M&M's Potential Trend Reversal

Mahindra & Mahindra Ltd (M&M) is trading close to its support and buying zone of ₹3350-3480. The RSI at 47 and MACD nearing a positive crossover suggest a possible trend reversal. Sustained strength above ₹3350 can open the path toward ₹4500. The lower boundary of the zone offers a favorable entry point for medium-term investors watching for renewed momentum.

Hindalco's Bullish Undertones

Hindalco Industries Ltd exhibits robust bullish undertones with an RSI of 66, confirming strong momentum. The price action above ₹750-782 supports continued upside potential. Any dip toward ₹750 can be viewed as a buying opportunity. Sustained moves beyond ₹782 could accelerate gains toward ₹1050, backed by solid trend alignment across key moving averages.

Zydus Lifesciences' Accumulation Base

Zydus Lifesciences Ltd is forming a base within ₹960-1000, hinting at accumulation. With an RSI of 44 and MACD on the verge of a bullish crossover, a reversal may be brewing. Holding above ₹960 can trigger an upmove toward ₹1350. Dips near the lower end of the buying range offer a good risk-reward entry, with a breakout above ₹1000 strengthening the bullish setup.

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