Index Update: The Nifty 50 edged down 0.17% to 24,945.45 on Monday but remained above key moving averages, signaling underlying market strength. A breakout above the descending trendline supports a bullish bias, despite the RSI easing to 63.61, indicating a slight loss in momentum. While short-term volatility may persist near resistance, the broader trend stays positive, with improving sentiment likely to fuel further gains in the near term.

Macro Update: India-US trade talks enter a pivotal stage as Commerce Minister Piyush Goyal leads a delegation to Washington from May 17–20. Discussions aim for an interim goods deal by fall, with early mutual wins. President Trump claims India agreed to "zero tariffs" on key U.S. exports, signaling progress.

Top Market Movers: On Monday, Bajaj Auto Limited (NSE: NSE: BAJAJ-AUTO) led the gainers with a 4.34% increase, closing at INR 8,851.00 followed by Shriram Finance Ltd (NSE: NSE: SHRIRAMFIN) up 1.85% at INR 677.80, and Power Grid Corporation of India Ltd (NSE: POWERGRID) which rose 1.28% to INR 304.05. On the downside, Eternal Ltd (NSE: ETERNAL) saw the largest drop, falling 3.15% to INR 238.03 followed Grasim Industries Ltd (NSE: GRASIM) down 2.75% to INR 2,727.00 and Infosys Ltd (NSE: INFY), which dropped 1.89% to INR 1,559.80.

Commodity Update: The dollar weakened Monday amid mixed Chinese economic data, highlighting domestic struggles and the impact of U.S. tariffs on exports. Meanwhile, the White House maintained pressure on trade partners. Gold surged 1.41% to $3,228.60, silver rose 0.72% to $32.58, while copper edged down 0.04% to $9,451.60. Brent crude slipped 0.20% to $65.27 as investors awaited Iran-U.S. nuclear talks and further Chinese economic indicators.

Our Stance: Nifty 50 dipped slightly but held strong above key levels, suggesting bullish undercurrents. India-US trade talks progress with hopes for a fall deal. Bajaj Auto led gains, while Eternal Ltd declined most. Gold rallied on dollar weakness. Brent crude edged lower amid global economic and geopolitical uncertainties.

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