Massive winter storm hits US Pacific Northwest

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Washington, Dec 28 | Thousands of people in the US’ Pacific Northwest were without power after a massive winter storm slammed the region, dumping nearly 30 inches of snow in the Sierra Nevada region and leading to road closures in Northern California.

On Sunday afternoon, there were over 20,000 residents without power in Washington state, more than 14,000 in California and some 10,000 in Oregon, Xinhua news agency quoted PowerOutage.US as saying on Monday.

Several mountain roads were shut down on Sunday, including a 70-mile stretch of Interstate 80 through the Lake Tahoe region to the Nevada state line.

The California Department of Transportation tweeted that there was “low or zero visibility on I-80”, according to a report by CBS News.

The National Weather Service (NWS) issued a winter storm warning for greater Lake Tahoe through early Tuesday morning and warned of “widespread whiteout conditions” and wind gusts that could top 45 mph.

The NWS reported 3.8 inches of snow fell in Seattle, the largest city in Washington. Frigid temperatures are expected to last in the region until Thursday.

“Record lows were set yesterday on December 26,” the NWS Seattle tweeted on Monday, noting that it was minus 6.7 degrees Celsius, breaking the 1948 record of minus 5.6 degrees.

It was minus 12.8 degrees in Bellingham, where the previous record was minus 11.1 degrees in 1971.

Officials urged residents of the Seattle area to stay inside and off the roads if possible.

The NWS in Reno said snow would remain heavy as the next storm pushes through the region.

The NWS in Sacramento warned that mountain travel would continue to be difficult.

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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