Markets triggered major unwinding on Monday with Bulls beginning to close out their long positions after Nifty sustained below 50 DMA post which key indices declined around 2%. The next leg of heavy selling may began on close below 17,312 which turns out to be the support line of Nifty in USD terms, below which market would be susceptible to 27% fall in quick span of time. An appearance of Diamond Top setup in last 3 months of distribution also marks confirmation of major top and one can open up aggressive shorting in large cap stocks after Nifty closes below 17,312 at any given point of time.
U.S. stocks ended lower, while Treasuries retreated following President Joe Biden’s nomination of Jerome Powell to head the Federal Reserve for a second term. Asia’s stock market slipped after Treasury yields and the dollar jumped as Jerome Powell’s re-nomination to head the Federal Reserve fueled bets on quicker policy tightening.
Stocks in news
BEL receives biggest ever export order from Airbus under Govt’s C295 aircraft programme
Vedanta- Reports indicate promoter to buy 4.5 pct from open market at Rs 350 a share
Indigo, SpiceJet- Domestic air traffic reaches new high post resumption
IEX- resumes trading of renewable energy certificates after 16 months
Mazagon Dock Shipbuilders- The Indian Navy has commissioned the first ship of project 15B Class Destroyer i.e. (Vishakhapatnam) built by Mazagon Dock Shipbuilders.
Omaxe- CARE revised rating on company’s long term bank facilities to BB/Stable, from D/Stable.
ONGC Can Tap Private Partners to Boost Output says Oil Ministry
Maruti Suzuki Wins India court halt on 2b rupees antitrust penalty
ONGC – Oil ministry says ONGC can tap private partners to boost output
India Is Said to Be Working Toward Coordinated Oil Stock Release
Top Court to Hear Amazon-Future Retail Case
India to Export About 5m Tons of Sugar in 2021-22 Season: Meir
India Markets Regulator Approves Medplus Health and 5 Other IPO
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