The daily RSI is forming an inverted head & shoulders pattern. Watch out for the level of 60 closely as a move above this level will lead to a resumption of an uptrend after a decent consolidation.  Bollinger Bands are still moving at a parallel distance. As Nifty is above the 20-DMA, be with a positive bias as long as it trades above it. The MACD histogram shows that the bearish momentum has declined significantly.  

According to history, the market trend only about 30 per cent of the time and the remaining 70 per cent moves in a range. Use this historical fact as an advantage and apply short straddles for profitable trading. You can adjust the short straddle into strangle at a later stage by exiting the profitable position and hedge the loss-making option. 

Indian Energy Exchange, which is India’s premier energy exchange, announced that it has strategically divested 26 per cent of the equity holding in Indian Gas Exchange (IGX) to National Stock Exchange of India Limited (NSE) and an additional 5 per cent equity holding to Oil & Natural Gas Corporation Limited, a Maharatna central public sector undertaking.  

On Wednesday, TVS Motor, a reputed manufacturer of two-wheelers and three-wheelers in the world announced that it has launched 2021 TVS Apache RTR 160 4V Motorcycle.    

On Wednesday, ABB Power Products & Systems India announced that it has won orders to power electric freight locomotives for the Indian Railways from the Government of India's electric locomotive manufacturer, Chittaranjan Locomotive Works (CLW), and the Central Organisation for Rail Electrification (CORE) for a total consideration of Rs 160 crore. 

Lupin Limited today announced the launch of the authorised generic version of Alinia (Nitazoxanide) tablets, 500 mg of Romark Laboratories, LC Alinia tablets, 500 mg, which are prescribed in the treatment of diarrhoea, caused by Giardia Lamblia or Cryptosporidium Parvum in patients of age 12 years & older.

The company has entered into an agreement with Iron Mountain to provide IT assets disposition (ITAD) services.

Social media developments have driven the recent boom in the price of Gamestop. Read all about how Social media and investment trends represent the new frontier of sentiment capture in financial markets.

In Q3FY21, its cumulative disbursements went beyond Rs 2,000 crore. In the same quarter, the value of AUM stood at Rs 1,127 crore, which is a 15 per cent increase over its previous quarter.

Anupam Rasayan is one of the leading companies in India, which is engaged in the custom synthesis and manufacturing of speciality chemicals. It is coming out with its IPO. Read on to find if you should subscribe to the issue.