Polygon BUIDL IT 2k21, Indias first Polygon-native hackathon, which aims to promote Web3 technology and culture among budding Indian developers becomes India’s largest Web3 Hackathon with a whopping 5031 registrations. BUIDL IT is now undoubtedly the biggest showcase of upcoming Web3 talent within the Indian subcontinent. Bringing Web3 to India with such grandeur is a feat that could not have been possible without amazing 180+ exclusive projects.Indias biggest web3 hackathon – Polygon BUIDL IT This is a testament to the fact that the builders & developers of India are not only embracing the change to a decentralized future but are actively building it. The hackathon kicked off in great style with some of the most influential entrepreneurs in the nation such as Sandeep Nailwal (Co-founder, Polygon), Vijay Shekhar (Founder, PayTM) & Kunal Kapoor (Actor; Founder, Ketto).The BUIDL IT hackathon was not only about hacking and building projects for veterans in this space, but also for newcomers willing to learn. In order to help newcomers to Web3, polygon had also organized an incredible line-up of workshops where participants could learn about the various concepts of Web3 and interact with experts from all over the world hands-on. The conversation started from Basics & Introductions to Oracles, APIs, NFTs, and Security and then to advance learning of the space.Sandeep Nailwal, Co-founder, Polygon, said, “Polygon empowers Web3 developers by providing the support and tools they need. By hosting BUIDL IT, we hope to attract more developers to join us in creating a fair internet that is for user ownership and privacy.”As the program wraps up, it has also announced the top 3 Web3 projects:The first-place award was given to Quark, an excellent immersive implementation of a 3D environment along with an interactive NFT marketplace. The other two winning projects are LunarPay Crypto Payments, one of the most essential building blocks to make crypto payments mainstream and power the next wave of crypto e-commerce, and Devparty, a Social Media for developers with proper Web3 implementation and great UI/UX. Minting posts as NFT, tipping crypto to users is directly built into the platform.
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.
Source: Choice India