The Indian rupee rose modestly on Monday as investors rushed to buy the dip, hoping that the Reserve Bank of India (RBI) would intervene. The USD/INR exchange rate dropped to a low of 89.15, down from last week’s high of 89.70.

Why the Indian rupee is plunging 

The Indian rupee has been in a strong downward trend this year, making it one of the worst-performing currencies in the Asian region.

This plunge happened as a trade deal between India and the United States remained elusive despite some recent assurances from the two sides.

As a result, goods from India to the United are being charged a 50% tariff, part of which is because of the country’s imports of Russian oil.

Recently, India has made some commitments to stop purchasing Russian oil. In a statement last week, Mukesh Ambani’s Reliance Industries said that it had stopped purchasing this oil in a major victory for Donald Trump.

On the positive side, Trump is pushing Ukraine to accept a trade deal that many analysts believe gives Russia everything it has been asking for.  One part of the deal is that the sanctions placed on Russia will start to end, which will likely allow Reliance to start buying Russian crude oil again.

The Indian rupee has also slumped after Donald Trump changed the H1-B visa program by adding the fees to $100,000, an amount that many companies will be unwilling to  pay. While the H1-B visa rule applies to all countries, the reality is that India is the most exposed as it has a 70% market share in the industry.

RBI expected to cut rates in December

The USD/INR exchange rate has also jumped because of the actions of India’s central bank, which has been cutting interest rates under Sajay Malhatara. The bank slashed rates by 25 basis points in February, followed by another 50 basis points in June. 

Analysts now expect that the bank will cut rates by another 0.25% forthe  December meeting, bringing the benchmark rate to 5.25%. 

The bank’s rate cuts are supported by the fact that India’s inflation has remained at a record low of 0.25%, down from the year-to-date high of 4.3%. The inflation has plunged because of the falling food prices, with vegetables and onions plunging.

The bank hopes that more cuts will help to supercharge the economy, which is still expected to be the fastest-growing one in the emerging markets. The GDP is expected to grow by between 6.2% and 6.3% this year and 6.3% in 2026, while the RBI sees the growth rising by 6.8%, helped by local demand.

Analysts and traders are now looking forward to the Reserve Bank of India, which may intervene in the forex market. 

According to Bloomberg, the bank has already pumped $10 billion in the past few months to support the rupee. In a statement, one analyst warned that the rupee freefall may continue if the RBI stays on the sidelines.

USD/INR technical analysis 

The USD/INR exchange rate has been in a strong uptrend in the past few months, moving from a low of 93.76 in May to a high of 89.67 on Friday. It pulled back a bit on Monday, moving to a low of 89.17 as hopes of an intervention rose.

The pair remains above the important resistance level at 88.85, its highest level in October this year.

It has also moved above the 50-day and 100-day Exponential Moving Averages (EMA). The pair is also above the Supertrend and the Ichimoku cloud indicators, a sign that bulls are in control.

Therefore, the most likely scenario is where the USD/INR exchange rate pulls back and retests the support at 88.84 and then resumes the uptrend towards the barrier at 90.

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Tata Consultancy Services share price is staging a slow comeback in the past few weeks. After bottoming at ₹2,856 in October, TCS has rebounded by over 10% to the current ₹3,155. So, will this rally continue as it formed a bullish pattern?

Tata Consultancy Services has faced challenges this year

TCS, one of the top IT consulting companies in the world, has faced major challenges this year, which explains why the stock has plunged by nearly 30% from its highest point this year. 

One of the biggest challenges is that Donald Trump recently raised the H1-B visa fees to $100,000 per worker from below $300. This decision means that it will find it difficult to take workers to the United States, one of their most lucrative markets. 

Indeed, data shows that Indian firms have reduced their H-1B applications by 37%, the sharpest decline in decades. 

Tata Consultancy Services stock also declined as companies embraced the new normal of tariffs in the United States. Historically, IT spending and marketing budgets are usually among the first to be cut when there are major issues. 

At the same time, the company faced challenges when the US government started to assess contracts awarded to consultancy services under Elon Musk’s DOGE. 

TCS is doing well despite the challenges

Still, there are signs that the company is doing relatively well despite the ongoing challenges. The most recent results showed that its revenue rose by 3.7% in the second quarter to ₹65,799 crore. 

Tata Consultancy Services international revenue rose by 0.6%, while its top verticals including life sciences, manufacturing, banking, finance, and communications, had a strong performance. 

TCS profits also did well in that quarter, with the operating margin rising by 70 basis points to 25.2%. The net income jumped by 8.4% to ₹12,904 crore, with its net margin coming in at 19.6%.

Tata Consultancy is now aiming to continue growing its business in the artificial intelligence (AI) industry. The company secured $1 billion from TPG to build data centers in the country. Together, the two companies will invest $2 billion in the next two years. These funds will go to HyperVault, TCS’s data center arm.

In a note, TCS said that it hopes that the deal will help it to boost shareholder returns, reduce its capital burden, and build a long-term value in the booming data center industry.

Analysts believe that TCS will benefit as American companies focus on India’s tech industry. Google has unveiled plans to spend $15 billion in the country, while Amazon and OpenAI plans to spend billions more.

TCS share price technical analysis

The daily timeframe chart shows that the TCS stock price has rebounded in the past few days. It has jumped from the year-to-date low of ₹2,856 to the current ₹3,150, its highest level since September 18. 

The stock has moved above the 50-day and 100-day Exponential Moving Averages (EMA). It is also about to move above the 23.6% Fibonacci Retracement level at ₹3,220. 

Most importantly, the stock has formed an inverse head-and-shoulders pattern, one of the most bullish signs in technical analysis. It is about to move above the neckline at ₹3,175. 

Therefore, the most likely scenario is where the stock continues rising, with the next key level to watch being the psychological point at ₹3,500, which is about 11% above the current level. A drop below the support at ₹3,050 will invalidate the bullish outlook.

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Rolls-Royce share price has pulled back in the past few weeks, moving from the year-to-date high of 1,194p in September to the current 1,038p. It has moved into a correction after falling by over 13% from its highest point this year. 

Rolls-Royce share price technical analysis explains the recent retreat

The Rolls-Royce stock price has pulled back in the past few weeks, mirroring the performance of other companies in the industry like GE Aerospace, which has also dropped by 10% from the year-to-date high. In France, Safran stock has also dropped from the year-to-date high of €315 to the current €290.

The decline is likely because investors are starting to sell their shares to book profits after a robust rally. In Rolls-Royce’s case, the stock was up by 1,643% from its lowest level in 2022 to its highest level this year.

The daily timeframe chart shows that the RR stock price retreated after forming a double-top pattern at 1,180p and a neckline at 1,086p. A double-top is one of the most popular bearish reversal patterns in technical analysis.

The stock also pulled back after forming a bearish divergence pattern on the daily chart. This pattern happens when oscillators like the Relative Strength Index (RSI) and the MACD are moving downwards and forming a series of lower lows when an asset is in an uptrend.

In this case, the RSI has dropped from the overbought level of 78 in June to the current 30. Similarly, the MACD indicator has moved below the zero line, a sign that the bearish momentum is continuing.

Therefore, the most likely scenario is where the stock continues falling as sellers target the key support level at 1,000p. It may then bounce back after that or continue with its downtrend as investors rotate to other stocks.

The bearish Rolls-Royce stock outlook will become invalid if it moves above the key resistance level at 1,086p, the neckline of the double-top pattern.

Rolls-Royce business is thriving 

The ongoing Rolls-Royce stock pullback does not mean that the company is doing badly. In fact, its business is firing on all cylinders, helped by the booming aviation sector and shortage for widebody engines.

The most recent trading statement showed that the company’s business was doing well as it received large engine orders from companies like IndiGo and Malaysia Airlines. It also received orders from Emirates and Etihad in the recent Dubai Airshow. 

The company’s other businesses are doing well, with investors focusing closely on its small modular business, which is seeing strong demand. The UK government has already selected it and is now in the final stage of competition in Sweden. It has also started the regulatory process in the United States.

If successful, this business may become as valuable as that of its American rivals like Oklo and NuScale, which have achieved valuations of over $13 billion and $5.5 billion, respectively.

The company’s power business is also thriving, helped by the surging data center demand. It is even building its next-generation engine, which will enter service in 2028.

Altogether, the management believes that the company will hit its forward guidance of underlying operating profit of between £3.1 billion and £3.2 billion, and its free cash flow of between £3 billion and £3.1 billion.

Most importantly, there are signs that the company is not all that overvalued despite the recent surge. It has a trailing PE ratio of 15, which is in line with other industrial companies.

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The FTSE 100 Index has come under intense pressure in the past few days as global stocks have become highly volatile. It dropped to a low of £9,540, down by over 4% from its highest point this year. This article explores some of the top FTSE 100 stocks to watch this week.

Anglo American is the top FTSE 100 stock to watch

Anglo American stock price has moved into a correction after falling by 10% this year. It remains much higher than the year-to-date low of 1,895p.

The company will be in the spotlight this week because of the latest rumors that BHP has approached the company for a deal, a year after it abandoned its $49 billion offer.

According to Bloomberg, BHP is considering an offer that will be a combination of cash and stock. A potential offer will likely be higher than the $49 billion that Anglo American rejected. It will likely have a a higher cash component.

However, the deal is complicated by the fact that Anglo American has made a bid for Teck Resources, one of the biggest Canadian miners. Shareholders of the two companies are expected to vote on to deal in early December. As such, it is unclear whether BHP’s deal will also include Teck Resources.

The main reason for the ongoing dealmaking is copper, a commodity whose price has surged in the past few years. Teck has some of the biggest reserves in North America, which makes it an attractive buyout target.

Anglo American also has vast copper resources, but also has some less desirable products like coal and nickel. Therefore, the new bid means that the Anglo American share price will likely jump after the market opens.

Kingfisher (KGF)

Kingfisher, the parent company of B&Q, Screwfix, Castorama, and Brico Depot, will be one of the top British companies to watch this week as it releases its trading statement, which will shed color on its operations.

These numbers come at a time when the stock has pulled back in the past few weeks, moving from a high of 320p in October to the current 290p. 

Kingfisher’s business has improved substantially in the past few months, which explains why its stock has jumped by 35% from its lowest level this year.

The most recent results showed that the company’s revenue rose to £6.8 billion in the first half of the year, while its operating profit rose to £383 million. 

Most of its growth was because of its B&Q and Screwfix businesses in the UK. It also gained market share in key countries like Spain, UK, and Poland.

Most importantly, the company upgraded its full-year guidance, with its profit-before-tax coming in at £540 million. Therefore, the stock will likely rise if the management boosts the guidance.

Easyjet (EZJ)

EasyJet is another top stock to watch as it publishes its full-year results on November 25. These results will come as the company’s stock has plunged by 20% from its highest level this year.

The decline happened when the company published its third-quarter financial results, which showed that higher fuel prices and the industrial action in France impacted its business.

Still, the company reported a solid profit before tax of £286 million, up by £50 million from the same period last year. This week’s report will likely provide more color on its business in the last quarter and a guidance on what to expect in the near term.

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Oracle stock price has suffered a major reversal as concerns about the artificial intelligence (AI) and its soaring debt remain. ORCL dropped to a low of $198, down by over 36% from its highest point this year. Its market cap has dropped from over $967 billion to $530 billion. 

Oracle stock has crashed amid debt concerns

One of the main reasons why the ORCL stock price has plunged is that investors are concerns about its soaring debt. It recently raised $18 billion in debt, bringing its combined borrowings to over $100 billion. 

The company intends to use these fund to fund its large data center operations. These funds are likely part of the Stargate project that also includes OpenAI and Softbank.

However, investors are betting against its stock and debt amid the rising concerns about the potential AI bubble. 

Data compiled by Bloomberg shows that the price to protect against the company defaulting on it debt has jumped to 1.11 percentage points. This is equivalent to about $111,000 for every $10 million.

More data shows that the company’s CDS has jumped to about $5 billion from $200 million in the same period last year. 

Concerns about the AI industry remains

Oracle stock price has also dropped because of the rising concerns about the AI industry, which some investors believe is in a bubble. Indeed, some notable investors like Masayoshi Son, Peter Thiel, and Michael Burry have dumped their Nvidia shares. 

Also, while many AI companies have jumped this year, most of them have pulled back from their YTD highs. Palantir stock has plunged by 25% from the year-to-date high. Other companies like CoreWeave, Nebius, and IREN have also tumbled in the past few weeks.

One of the main concerns about this is the web of deals that Oracle has entered in the past few months. One of this deals is its partnership with OpenAI that will see it receive $30 billion a year for data center services. 

The main concern is that OpenAI does not have that money as it is expected to make between $12.7 billion and $20 billion this year. Also, OpenAI has made deals worth over $1 trillion with companies like Broadcom, CoreWeave, Nvidia, and AMD. 

The most recent results showed that the company’s remaining performance obligations (RPO) jumped by 359% in its first quarter to $455 billion. Its revenue rose by 12% to $14.9 billion, while its EPS dropped by 2% to $1.01. 

Oracle share price technical analysis

The daily timeframe chart shows that the ORCL stock price peaked at $345 and then plunged to the current $200. It has dived to the lowest level since June. 

The stock has moved below the 61.8% Fibonacci Retracement level. It has also moved below the 50-day and 200-day Exponential Moving Averages (EMA). Dropping below these averages is a sign that bears are in control. 

Oracle stock has moved below the Supertrend and the Ichimoku cloud indicators. Therefore, the most likely scenario is whre it continues falling, potentially to the 78.6% retracement level and then it starts to climb as investors buy the dip.

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The crypto market crash eased during the weekend as investors bought the recent dip, and as American stocks rebounded from their Thursday crash. Bitcoin price rose to $86,500 from last week’s low of $80,000. 

Other top cryptocurrencies were also in the green, with Ethereum, XRP, Solana, and Chainlink rising by over 3% in the last 24 hours. As a result, the market cap of all coins is nearing the important milestone of $3 trillion. So, is this the end of the recent crypto crash or is it a dead-cat bounce?

Why the crypto market is going up today

Bitcoin and most altcoins are rising today, Nov. 23, for several reasons. First, there are signs that investors are buying the dip after most coins moved to the oversold levels. It is common for tokens to bounce back whenever this happens as investors buy the dip.

Second, cryptocurrencies are going up as investors start deploying leverage again. Data compiled by CoinGlass shows that the futures open interest rose by nearly 4% on Sunday morning to $126 billion. Rising open interest is often a good thing as it points to more demand among investors. 

Third, there was less forced selling pressure in the market as liquidations tumbled. Total liquidations dropped by 88% in the last 24 hours to $208 million. 

Data shows that 115k traders were liquidated in the same period, with the biggest one being a $3 million HYPE trade on Hyperliquid. The falling liquidations is a good thing because the recent surge partially explains why Bitcoin and most altcoins tumbled.

However, it is worth noting that liquidation data often plunge during the weekend when many people are not trading. 

The crypto market rally is also happening as traders wait for more altcoin ETF launches. Some notable listings to watch will be on coins like XRP and Dogecoin. These launches come as data shows that the there is robust demand for altcoin ETFs.

Is this the end of the crypto crash?

Bitcoin price has jumped by 7.3% from its lowest level this year, while other tokens like Ether and Solana have done better. 

The main risk is that this rebound is a dead-cat bounce (DCB). A DCB is a situation where an asset in a freefall bounces back briefly and then resumes the downtrend. It is often known as a bull trap because it mostly affects retail investors.

One way to avoid being caught up in a dead-cat bounce is to wait for Bitcoin to move above key moving averages. Also, one can wait for the formation of a pattern like a double-bottom to confirm that a new bull run is happening.

Still, there are signs that the end of the ongoing crypto market crash is near. For one, the Crypto Fear and Greed Index remains in the extreme fear zone of 11. Historically, most crypto bull runs start when there is a sense of fear in the market.

Also, there are signs that whales are aggressively buying the dip. A good example of this is Michael Saylor’s Strategy, which spent over $800 million in accumulation last week. He has hinted that he continued buying the dip. 

Tom Lee’s BitMine has also continued buying Ethereum in the past few weeks. In his statement, he argues that the ongoing sell-off is part of volatility, which is a normal part of the crypto market. 

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Zoom stock price has remained in a deep consolidation phase in the past few years as demand for its services waned. It has remained inside the support and resistance levels at $56.27 and $91 since 2022. 

ZM stock was trading at $78.64, down by over 86% from its highest level since 2020. In contrast, the S&P 500 and Nasdaq 100 Indices have continued rising and are now hovering near their all-time highs. So, will the upcoming earnings push the Zoom share price higher?

Zoom Communications’ business has slowed

Zoom was one of the top beneficiaries of the pandemic as most companies, schools, and other organizations embraced its technology for work and other communications. 

The past few years have been tough for the company as demand for its services waned. At the same time, the company has faced the challenge of competition as the video communication industry has become saturated. 

Some of the top alternatives to Zoom are Google Meet, Cisco Webex, Microsoft Teams, and Slack Huddles. As a standalone company, Zoom is often seen less appealing compared to other platforms that are part of a bigger company. 

The most recent results showed that Zoom Communications’ business was no longer generating the double-digit revenue growth as it used to be in the past.

Zoom’s revenue rose by 4.7% in the second quarter to $1.21 billion. Most of this revenue was in its enterprise segment, which made over $730 million. Its online revenue rose to over $484 million. 

Interestingly, Zoom Video is still adding more customers despite the challenges in its platform. The number of customers contributing over $100,000 jumped to 4,274 in the second quarter from 3,933 in the same period last year. Also, the company benefited from its international business growth.

Zoom to publish its quarterly results

The next important catalyst for the ZM stock price will be its earnings, which will come out on Monday. Wall Street analysts believe that the company’s revenue will come in at by 3% to $1.21 billion. 

They also expect the annual guidance to show that the company’s revenue will be $4.83 billion, up by 3.59% from what it made last year. 

Analysts also expect the upcoming results to show that the earnings-per-share (EPS) rose from $1.38 to $1.44. Zoom, despite its challenges, has a record of beating its earnings estimates. 

Zoom stock price technical analysis 

The weekly chart shows that the ZM stock price has remained in a tight range in the past few months. It has remained inside the range between $56 and $91. 

This performance is a sign that the stock remains in the accumulation phase of the Wyckoff Theory. A horizontal movement and low volatility characterize accumulation. 

A vertical movement usually follows this phase as the stock moves to the markup phase. This pattern means that the Zoom stock price will surge eventually. However, the Wyckoff theory can last months or even years to be confirmed.

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Walmart stock price popped by over 6.5% on Thursday as investors reacted to its strong earnings report. WMT jumped to $107, its highest level since October 25, and a few points below the all-time high of $110. 

Walmart’s business is booming 

Walmart, the biggest retailer in the United States, announced strong financial results, helped by its e-commerce and advertising business.

The company’s revenue jumped by 5.8% in the third quarter to $179.5 billion, higher than what analysts were expecting. Its e-commerce business rose by 27%, while the advertising segment soared by 53%.

Walmart US’s revenue rose by 5.1% to $120 billion, with most of the growth coming from its e-commerce business and its other key divisions like grocery, health & wellness, and general merchandise.

Its international business also continued thriving in the last quarter, with its revenue surging by 10% to $33.5 billion. The growth was mostly because of its Flipkart business.

These results showed that the company’s business continued to thrive during the new normal of Donald Trump’s tariffs. He has added a minimum tariff of 15%, with some countries like South Africa, Brazil, and India paying a higher levy.

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Historically, Walmart has navigated major crises well because of its scale and regional presence. Its scale makes it easier to negotiate with its suppliers. It is also beloved by customers because it is usually cheaper than other companies. 

Walmart’s management believes that its business will continue doing well in the coming months. The average estimate is that its annual revenue will be $674.5 billion, higher than the $448 billion it made last year.

Its adjusted operating income is expected to come in at $29.5 billion. However, analysts believe that its annual revenue will be higher than the guidance. According to Yahoo Finance, the average estimate is that its annual revenue will be $704 billion followed by $737 billion in the next financial year.

Analysts are also upbeat about its profitability, with the annual EPS expected to move to $2.61 this year and $2.94 in 2026.

This growth explains why analysts have a bullish outlook for the company. The average estimate among analysts is $114, up slightly from the current $107. 31 analysts have a buy target and 9 have a strong buy rating.

Still, the main risk for Walmart is that it is not a cheap company. Its forward price-to-earnings ratio has moved to 36, much higher than the retail sector median of 17 and the five-year average of 29. 

Walmart’s forward PE ratio based on non-GAAP numbers is 38, up from its five-year average of 27. This premium valuation is because Walmart is on a level of its own in the retail industry. It is also an all-weather company that does well in all market conditions.

Walmart stock price technical analysis 

The daily timeframe chart shows that the WMT stock price has been in a strong uptrend in the past few months, moving from a low of $79.67 in April this year to the current $107’

It has moved above the important resistance level at $104.50, its highest level in February, August, and September. It has moved above the upper side of the ascending triangle, a popular continuation pattern.

Walmart stock has remained above the 50-day and 100-day Exponential Moving Averages (EMA). Therefore, the most likely scenario is where it continues rising as bulls target the key resistance level at $110. A move above that level will point to more upside, potentially to $115. A move below the support at $105 will invalidate the bullish outlook.

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