On January 15, 2018- The nifty opened at 10,718 then rose to a record high of 10,782.65 low of 10,713.80 and in the end closed at 10,741.55 - 60.30 points higher than its previous close. The day was majorly ruled by bullish bear’s and thus the continuing support has moved the nifty to close above its all time time high closing levels.

According to pivot charts, Key support is at 10, 709 followed by 10,677 and key resistance is at 10,778 and 10,814.

Important news for the day:

1) Essar Steel promoters Shashi and Ravi Ruiamay join hands with Russian Bank VTB & SSG Capital to set up a consortium to bid for the company that’s in the midst of bankruptcy proceedings at the National Company Law Tribunal ( NCLT).

2) Blackstone is in advanced talks to acquire 1.7m sq ft commercial property portfolio of L&T realty in a deal value at 2300 Crores.

3) India’s trade deficit widened to its highest to USD 14.88 billion which is more than three years as higher import bills for gold and crude oil weighed on rising exports.

4) The Finance ministry may tweak the provisions on Minimum Alternate Tax ( MAT) in the upcoming Union Budget to help the industry overcome the impact of tax reforms in US.

5) According to a report, the Telecom sector will continue to witness decline in head counts for the next six- nine months.

6) Oil hovered near a three year high above USD 70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies.

7) Newgen Software is set to open its Initial Public Offering (IPO) today. The company is looking to raise 450 Crores, with a price band of shares at 240-245.

8) Companies such as Den Networks, ICICI Lombard, TV18 along with 19 other companies to declare their Q3 results today.

9) Barbeque Nation, The casual dining chain has received market regulators SEBI approval to raise 700 Crores through Initial Public Offering (IPO).