Moscow, Dec 22 | Russian President Vladimir Putin has said that his country will take countermeasures if the West continues its “aggressive” policy, but remains ready for negotiations.
“If our Western colleagues continue their clearly aggressive line, we will take adequate retaliatory military-technical measures to respond firmly to hostile actions,” Putin said at an expanded meeting of the Russian Defense Ministry Board.
“We have every right to do so, to take actions aimed at ensuring the security and sovereignty of Russia,” he said, expressing concerns over the deployment of the US missile defense systems near Russian borders, including in Romania and Poland, Xinhua news agency reported.
He warned if the US and the North Atlantic Treaty Organization (NATO) deploy missiles in Ukraine, they would reach Moscow in only seven to 10 minutes, and in just five minutes if they are hypersonic weapons.
“They must understand that we simply have nowhere to retreat,” Putin said.
Russia has recently sent a draft agreement to NATO and a draft treaty to the US both on security guarantees in Europe for the Western countries to consider.
Putin reiterated that Russia stands against armed conflict and bloodshed and wishes to resolve issues through diplomacy, but there must be clear legal guarantees.
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