Cryptocurrency Prices by Coinlib

Market Analysis for January 4, 2018

On January 3, 2018- The nifty opened at 10,482 then rose to a high of 10,503 low of 10,429 and in the end closed at 10,443 thus making a marginal up of 1 point. The day was evenly ruled by bullish and bearish bears however in the end bulls managed to push in the end to close in green. 

According to pivot charts, Key support is at 10,413 followed by 10,384.67 and key resistance is at 10,488 and 10,532.

Important news for the day:

1) The Reserve Bank of India has ordered banks not to initiate bankruptcy proceedings against Jaiprakash Associates. This may be because of legal complications after a Supreme Ciurt ruling barred its promoters from selling and transferring assets.

2) India is targeting 90 measures which includes Quicker construction permits, simpler registration of companies and Aadhaar based identification of directors to achieve higher rating in Worlds Bank annual listing of  Ease to Doing Business.

3) Flipkart has infused ₹1632 Crores in three tranches between October and November 2017, into its logistics arm eKart to further strengthen its delivery and warehousing capabilities.

4) The joint investment platform of  Housing Development Finance Corporation ( HDFC) and Abu Dhabi Investment Authority (ADIA) is set to commit more than $500 million ( ₹3175 Crores) by March 2018  to affordable and mid income housing projects across India.

5) Ecommerce Platform, Infibeam, as a part of consortium has secured a contract to manage the government’s eMarketplace.

6) Due to Non Payment of Loans, Shakti Bhog, Anrak and Wind World is been taken into court.These companies together own ₹12000 Crores in Loans and interests to banks.

7) The Finance Ministry has approved the proposal of ₹7577 Crores in 6 weak public sector Bank (PSBs) as part of the recapitalisation plan to bolster the capital adequacy ratio.

8) India has imposed anti dumping duty on as many as 98 Chinese products.

9) SEBI is planning to open up the commodities market for foreign portfolio investors (FPIs) , fund houses and portfolio management services ( PMS) by March.

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