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The Bengaluru civic body has issued a notice to former India captain Virat Kohli’s One8 Commune pub on a complaint alleging fire safety violations.The pub, located on the sixth floor of Ratnams Complex on Kasturba Road near the Chinnaswamy stadium, has been alleged of operating without implementing mandated fire safety measures or obtaining a fire department clearance certificate.BBMP's notice comes after a notice filed by social activist Venkatesh, who claims that the lack of fire safety measures poses a risk. 116529449The management of One8 Commune has allegedly failed to respond or take corrective action despite previous notice. The civic body has now given the establishment a 7-day deadline to provide an explanation, warning of legal action if compliance is not ensured.This is not the first time the Kohli-owned pub has been in trouble. In June, the Bengaluru Police registered an FIR against One8 Commune, along with other establishments on MG Road, for operating beyond the stipulated time. 116471667The pub was found to be open until 1.30 am, beyond the permitted closing time of 1 am, the FIR alleged. The police action was based on complaints about loud music being played in the area late at night.The Bengaluru branch of One8 Commune was inaugurated in December 2023. It has branches in other major cities such as Delhi, Mumbai, Pune, and Kolkata.

Base metals, known for their abundant availability and affordability, play a significant role in various industries. Unlike precious metals such as gold and silver, base metals are easier to mine and are traded extensively on exchanges like the London Metal Exchange (LME) and the Multi Commodity Exchange (MCX). Some of the most commonly traded base metals include copper, zinc, aluminium, and lead. These metals are crucial in sectors like manufacturing, infrastructure development, building construction, and equipment production.Factors Influencing Base Metal PricesThe pricing of base metals is influenced by various factors that reflect both global economic conditions and industry-specific dynamics. One critical element is the economic situation in China, which, as the largest consumer and producer of base metals, plays a foundational role in global pricing. The balance between supply and consumer demand is another essential factor that directly impacts metal prices. Increased industrial and manufacturing activities typically lead to a heightened demand for base metals, driving prices upward. Moreover, geopolitical stability in major producing countries affects production levels and can introduce additional volatility in the market. Data on inventory levels at the London Metal Exchange (LME) is also important, as it helps traders assess the market's supply and demand balance. Additionally, fluctuations in the Dollar Index can affect the attractiveness of base metals since they are priced in U.S. dollars. Monetary policies from major central banks influence economic conditions, thereby impacting both the demand for and prices of these metals. Furthermore, economic data print from the USA and China are crucial, as key data releases from these two economies can significantly influence market sentiment and prices. Finally, mine closures and restarts lead to changes in production capacity, which can cause immediate shifts in supply.Current Market Dynamics for Base MetalsPresently, the Dollar Index stands at a multi-week high of around $107, which has diminished the appeal for industrial metals, given that these commodities are dollar-denominated. A sluggish Chinese economy, coupled with the absence of substantial stimulus measures, is constraining base metal prices. Additionally, the possibility of tariffs on China after Donald Trump winning the presidential election have changed the market sentiment towards copper and other metals. Ongoing geopolitical tensions, notably between Russia and Ukraine and in the Middle East, are also likely to keep prices volatile.Trading Base Metals with LME Inventories and Economic IndicatorsTo successfully trade base metals one must consider various economic indicators that impact prices. Key economic data such as the ISM Manufacturing Purchasing Managers' Index (PMI), Durable Goods Orders, GDP data, Construction Spending, Caixin Manufacturing PMI, and Industrial Production are crucial in formulating trading strategies. In this context, we are discussing ISM Manufacturing PMI data for a better understanding of the movement of copper.ISM Manufacturing PMI is a key indicator for base metals and is released once a month during the first week. Traders pay close attention to this data because it serves as a leading indicator of economic health. Businesses often react quickly to market conditions, and purchasing managers provide the most current and relevant insight into their company's economic outlook.Latest Data (November 1, 2024):- Actual: 46.5- Forecast: 47.6- Previous: 47.2Since the actual data fell short of the forecast, the impact on base metals was negative, leading to a correction of over 6% in MCX Copper from its November high. It is important to note that price action and global sentiment must also be supportive of such a significant move.LME Inventories Data: In India, LME Inventories data is updated at 2:30 PM during Standard Time and at 1:30 PM during Daylight Saving Time. The LME numbers are updated for all base metals; we will use copper as an example. LME data indicates the amount of stock available in the warehouse. A significant drop in inventories signals lower supply and may drive prices higher, and vice versa. For example, if inventories have been declining by 10000-15000 tons per day and then decreased by 40000 tons today, traders will likely react quickly to this news, indicating a potential supply deficit in the market that may push prices higher.Base metals offer a great opportunity for traders. They are often underrated in commodities trading. As mentioned earlier, base metals are more commonly available and easier to mine than precious metals. This results in less volatility within the base metals market, making it easier for traders to identify support and resistance levels, as prices usually trade within a narrow range. With the right technical tools and by staying updated on the latest economic news, trading base metals can be more straightforward than trading precious metals or oil.Now that we have a basic understanding of base metals, let's delve into the technical aspects.As previously discussed, various factors and economic data can impact base metal prices. Additionally, there are several technical indicators that can assist in trading these prices. One of the most suitable indicators, based on price action, is the Bollinger Band.Bollinger Bands consist of three lines: the middle line represents the moving average, while the two outer bands indicate price volatility. When prices cross or touch the bands, it signals overbought or oversold conditions, helping traders identify potential reversals or trends. Bollinger Bands are particularly effective for base metals because these markets often trade within predictable ranges influenced by supply and demand factors. The bands help identify overbought or oversold conditions, allowing traders to spot potential reversals or breakouts within volatile yet range-bound price movements.The StrategyIf prices move above the upper Bollinger Band, it indicates an overbought zone. Wait for the next candle to move back inside the band, then take a short position and place a stop-loss order above the previous candle's high. This strategy is most effective on a 4-hour chart. It is advisable to backtest it across all base metal commodities to assess its effectiveness and utility in trading.(The author Deveya Gaglani is Research Analyst- Commodities at Axis Securities. Views are own)

His soft-spoken poise and composure, heart-warming sincerity and quiet, steely determination has made Gukesh Dommaraju an unlikely new GenZ icon. He is a world away from the robust physicality of the heroes of India's favourite sport, cricket. He also has none of the swagger of, say, a Bollywood star. He wears understated clothes, and often a vibhuti tika on his forehead. And he is the new World Chess champion and India's idol at just 18 years of age.Back in September, coming down for breakfast at the Hilton Hotel in the centre of the historic quarter of Buda Castle in Budapest, I noticed three young, skinny, bearded Indians who looked very familiar indeed. That was quite a feat as I had utterly failed to recognise the actor Rajkumar Rao, also sporting a beard, on a flight from Kolkata to Delhi just a few weeks before. I soon realised who the three were and went over to wish them luck.The Indian and Chinese teams for the 45th Chess Olympiad were staying in the same hotel and had the option of using a separate room for meals; but the three Indians were at a table in the main coffee shop, eating along with the rest of us, a motley bunch of tourists, airline staff and a few businesspeople. My enthusiastic wishes for their success were greeted with bashful but genuine smiles, and a very heart-warming lack of either hubris or celebrity irritation.It would not be difficult now for many people in India to identify those three bearded boys, as India has not only won gold at Budapest in both the Open and Women's categories in 2024 but one of them is now World Chess Champion. Their victories have cemented India's status as a cerebral superpower, first asserted by Vishwanathan Anand becoming India's first Grandmaster and world chess champion till he lost the title to Magnus Carlsen in 2013.Gukesh's dizzying success so early in life, his evident passion for the sport that India gave to the world and his dreams of a "long career" has fired up millions of young Indians, especially since this sport does not seem to need much more than just a board, chess pieces and a sharp brain. That Gukesh went bungee-jumping in Singapore after his victory also indicates that he has not lost his youthful exuberance in the punishing preparations to rise so meteorically.India gave chess to the world and then faded from the scene. But the new crop of top Indian chess players-12 in the first 100 in the world men's rankings and 10 in the women's 100-led by not only by Gukesh but also Arjun Erigaisi (just three places below leader Magnus Carlsen in December 2024), siblings Pragnanandhaa and Vaishali Rameshbabu and others are mostly GenZers, which raises the prospect of India becoming a formidable force in chess now.Gukesh must be one of the few teenagers who has no personal presence on social media as his team takes care of his Instagram handle which has 1.4 million followers. Incidentally, in case there is any doubt about India's favourite sport, Virat Kohli has 270 million followers. But the glare of the limelight is firmly on Gukesh now and his expected match against Carlsen in May 2025 in Norway is sure to generate a lot of white-hot heat, especially on social media.God willing, thanks to his practice of meditation, Gukesh will develop a metaphorical heat-deflective mental shield to deal with criticism and probable negativity. He will also have the expectations of millions of Indians focused on him, not just those of his devoted parents and friends, as he moves onwards and upwards in his career. Many of us Indians, of course, just hope Gukesh never loses that shy, gentle thoughtfulness-just like his 'Vishy Sir'.