Nifty confirmed formation of upside gap two crows on Monday after prices opened higher but ended on flat note thus engulfing previous upmove. The upside gap two crows has major significance of trend reversal if occurred after extended rally and often confirms market top on follow up negative closing. With Natural Gas shooting by 30% in past 5 trading session and crash in Indian Govt bond prices by 2% in yesterday’s trade, we can expect major turbulence in equity market in days to come and we can expect major unwinding if USDINR crosses above 74 mark. Based on upside gap two crows pattern, we can expect major reversal if Nifty closes below yesterday’s low of 17802.
U.S indices ended cautious on Monday with investors pivoting to value as tech shares, hurt by rising Treasury yields, weighed on equities in the quarter’s final week. The Dow Jones Industrial Average rose 71.37 points, or 0.21%, to 34,869.37; the S&P 500 lost 12.37 points, or 0.28%, at 4,443.11; and the Nasdaq Composite dropped 77.73 points, or 0.52%, to 14,969.97.
Stocks in news
Bharat Petroleum to invest Rs 1 trillion, India’s second-largest fuel retailer is looking to create a 1,000 MW portfolio of renewable power generation
Glenmark Pharmaceuticals sees potential of NONS to prevent Covid-19
HDFC Bank raises Rs 5,000 crore through bond issue
Adani Wilmar rolls out ‘Fortune Mart’ stores in 6 states
Raymond consolidates tools & hardware, auto parts biz into engineering biz
Govt intends to complete BPCL disinvestment by March-end – Company chairman
Tata Projects wins Rs 2,100 cr Chennai Peripheral Ring Road Project phase-1
Vistara partners with IndusInd Bank to launch co-branded credit card
IOC, CPCL start working on Rs 31,580-cr refinery project at Nagapattinam
HDFC plans Rs 6,000 crore bond issue to shore up long-term resources
Fertilizer firm Paradeep Phosphates gets regulatory nod to float IPO
MSCI addition of six stocks likely to rake in over Rs 9,000 crore, Semi-Annual Index Review (SAIR) on November 12
HAL signs pact with Alliance Air for deployment of civil Do-228 Aircraft in AP
ICRA revises India’s FY22 real GDP forecast upwards to 9%
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