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FII Trading Activity:
DII Trading Activity:
ED launches money-laundering investigation against Franklin Templeton:
The Enforcement Directorate has registered a money laundering case against Franklin Templeton and senior officials, in the first case by an investigation agency against the asset management company after it unexpectedly closed six debt schemes in April 2020. Click to read more
Dollar hits a seven-month high against the yen:
The dollar hit a seven-month high against the yen on Thursday as an orderly rise in U.S. Treasury yields lent support ahead of a speech by Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies.
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It is difficult to gauge the direction of the market in the near term as there are so many transient factors that are pulling markets in opposite directions, says Tyagi.
Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day underpinned alongside a drop in U.S. fuel inventories.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities:
The short term trend of Nifty continues to be up. The negation of recent bearish patterns could indicate more upside in the short term. The next upside levels to be watched around 15,430 in the next 2-3 sessions. Immediate support is placed at 15,160.
Bitcoin rises 5%:
Bitcoin rose 5% to $50,942.58 on Wednesday, adding $2,426.23 to its previous close. It has risen 83.7% from the year’s low of $27,734 on January 4.
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Indicator reading near 60 levels as well as prices trading above its 21-Day EMA, all this positive technical setup indicates that Nifty will touch 15,600 levels very soon.
Wall Street ends lower
The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery on the back of fiscal stimulus and vaccination programs.
The Dow Jones Industrial Average fell 0.39% to end at 31,270.09 points, while the S&P 500 lost 1.31% to 3,819.72. The Nasdaq Composite dropped 2.7% to 12,997.75.