On January 16, 2018- The nifty opened at 10,761 then rose to high of 10,762.35 low of 10,687.85 and in the end closed at 10,700.45 - 41.10 points lower than its previous close. The day was majorly ruled by bearish bear’s and thus the three day bullish runs comes to an end.

According to pivot charts, Key support is at 10,671 followed by 10,642 and key resistance is at 10,745 and 10,791.

Important news for the day:

1) The indirect tax system is set to undergo significant changes, which will include simplification of return filing process; amendment in laws and rules to simplify procedures along with rate cuts of around 70 goods and services.

2) CII has asked the government to include oil and natural gas in the new Goods and Service Tax ( GST) regime at the earliest.

3) Research firm Gardner has said that Global IT spending is expected to grow 4.5 percent to USD 3.68 trillion this year.

4) BSE has decided to hold mock trading sessions in commodity derivatives from January 29.

5) The Indian currency has recorded its biggest single day crash in eight months by loosing a whopping 55 paise or 0.87 percent in highly volatile trades, mainly due to rising oil prices.

6) The I itial Public Offering Of Internet firm Newgen Technologies was subscribed 19 percent on the first day of its listing.

7) Cryptocurrency BitCoin has tumbled 28 percent on Tuesday to four week trough close to USD 10,000- after reports that a ban on trading of Cryptocurrencies in South Korea.

8) Amber Enterprises India to open its Initial Public Offering today. The company is looking to raise 600 Crores with a price band of 855-859 per share.

9) Adani Power, Adani Transmission, HUL and Zee Entertainment along with other 15 companies to announce their Q3 results today.