On January 18, 2018- The nifty opened at 10,873.40 then rose to record high of 10,887.50 low of 10,782 and in the end closed at record high of 10,817 -28 points higher than its previous close. The day was majorly ruled by bullish bear’s and pushed the market to close at all time high levels.

According to pivot charts, Key support is at 10,770 followed by 10,723 and key resistance is at 10,875.53 and 10,934.

Important news for the day:

1) The GST Council, the apex decision making body for the tax, has approved a religious in the rates of 29 goods and changes to the taxation regime for 53 services at its 25th meeting.

2) Markets continued their record setting spree for the second spree for the second straight day with Sensex rising over 178 points to hit a new closing high of 35,260.29 and Nifty ending above 10,800 for the first time.

3) The Department Of Telecommunications will consider reducing license fee, spectrum user charges and other levies in new Telecom policy to drive investments  in the sector.

4) According to Rating Agency Moody, the non Life Insurance industry is expected to register double digit growth for next three to four years.

5) NewGen Software IPO was subscribed 8.22 times on Thursday. The IT Company is looking to raise 425 Crores.

6) Due to the rising Jet Fuel Prices, The Indian aviation sector could see a drop of 12 percent.

7) Amber Enterprises- the manufacturers of Air Conditioners IPO was subscribed 3.61 times on its second day of bidding on Thursday.

8) India’s annual steel production has crossed 100million tonne mark in 2017.

9) HCL Technologies, HDFC Bank, ITC, Reliance Industries, Wipro along with 23 other companies to declare their Quater 3 results today.