After continuous rain, Delhi-NCR wakes up to foggy morning

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New Delhi, Jan 10 | After more than two days of continuous rain, residents of Delhi-NCR on Monday woke up to a foggy morning.

The India Meteorological Department (IMD) has pegged the maximum and minimum temperatures at 17 and 9 degrees Celsius, respectively.

While the Safdarjung Observatory recorded a minimum temperature of 9.6, three notches above the normal, both Palam and Lodhi Garden’s registered 9.4 degrees.

The relative humidity at 8.30 a.m. was recorded at 95 per cent.

Meanwhile, Delhi received a cumulative rainfall of 15 mm in the last 24 hours.

The persistent rainfall that battered the national capital since Friday night broke a record for the highest rainfall for January.

The Palam observatory had recorded 47.6 mm rainfall for the 24 hours ending at 8.30 a.m. on Saturday, which the IMD said was the second-highest for data between 1959 till 2022 for the month of January.

As the IMD had predicted beforehand, it was the Western Disturbance (WD) that had brought in copious amounts of rainfall not just in Delhi-NCR but across northwest India.

WDs are more frequent and stronger in the winter season. As a result, rain and snowfall in the Himalayas is restricted to Jammu and Kashmir, Punjab, Haryana, Delhi, and Rajasthan, which may extend to Madhya Pradesh, as happened this year.

But sometimes, a stronger WD also extends all the way up to Uttar Pradesh, Bihar, West Bengal, and parts of Nepal.

As per its weekly prediction, Delhi will have a clear sky with moderate to normal fog.

The maximum and minimum temperatures this entire week will hover around 20 and 8 degrees Celsius, respectively.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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