The Nifty 50 started Thursday's session on a positive note and touched an intraday high of 24,134.70 in early trade. This level marked nearly a 61.8% retracement of the previous day's decline. However, the index failed to sustain at higher levels and gave up more than 150 points from the day's high in the second half of the session. Despite this late weakness, the index ended higher by 80.75 points, or 0.34%, and snapped its two-day losing streak. However, the close below the psychological 24,000 mark kept the recovery muted. Nifty Forms Inside Candle Thursday's price action resulted in the formation of an inside candle. This came after the previous session recorded the widest single-day range in over one month. The latest candle had a small green body and a long upper shadow, which indicates hesitation at higher levels. This suggests that while buying interest emerged after the recent decline, traders were not confident enough to carry positions aggressively. ...
Former Bengaluru Police Commissioner Bhaskar Rao, who is the Chairman of Aam Aadmi Party's (AAP) Manifesto Committee, is likely to join the BJP ahead of the Assembly polls in Karnataka, sources close to him and the party said on Tuesday. The former IPS officer today met state's Revenue Minister R Ashoka and held discussions. He is also said to have met Tamil Nadu BJP President K Annamalai, a former IPS officer and party's co-in-charge for Karnataka polls, and Union Minister Pralhad Joshi, sources said, adding that he will be joining the party soon. Mr Rao, who resigned from the IPS, had joined AAP in April last year, and was recently appointed as the party's Manifesto Committee's Chairman, and had emerged as one of the prominent faces of the party in the state. Mr Rao, who was even seen as AAP's probable candidate from the Basavanagudi Assembly constituency, is said to have quit the party due to his reported not so good equations with certain leaders especia...