Connect with us

Business

Day trading guide for Wednesday: 4 stocks to buy or sell today — 12th Januar

Published

on

Day trading guide for Wednesday: 4 stocks to buy or sell today — 12th Januar

After showing a sustainable upside move on Monday, Indian stocks posted a range-bound upside momentum on Tuesday. In a consolidation, the NSE Nifty closed at 18,055, 52 points higher than Monday’s close, while the BSE Sensex surged 221 points to 60,616. The Nifty Bank index rose 94 points to close at 38,442.

According to stock market experts, the current market pattern suggests a range-bound market with a positive bias. The Nifty 50’s recent moves remain unchanged, with a positive chart pattern active with higher highs on the daily chart.

Speaking in NSE Nifty’s day trading guide today; Nagaraj Sheti, technical research analyst at HDFC Securities, said: “The market’s range-bound uptrend is likely to continue. Further volatility and range are likely after key overhead resistance around the 18200 level. Volatility for the next 1-2 trading days. Eventually, the market may break above mentioned resistance in the short term. Immediate support for NSE Nisfty lies at the 17,950 level.

Weakness in the market is expected in the near term; Deepak Jasani, head of retail research at HDFC Securities, said: “Nifty’s momentum has decelerated on January 11, with the advance decline ratio turning slightly negative. This may indicate that the trend is maturing, and Nifty Sharp upward correction in the near term. 17,945 to 18,109 could be the range for the near-term Nifty.”

Advertisement

Complete News Source : Mint

Continue Reading

india

Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Published

on

By

Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.

As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.

Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.

Congress demands JPC probe

Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.

Advertisement

ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election

Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.

He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.

The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.

Advertisement

“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.

Other Oppn leaders join attack

Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.

Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.

ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%

Advertisement

Adani stocks latest updates

The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/

Continue Reading
Anyskill-ads

Facebook

Trending