By Reuters Staff
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FILE PHOTO: GameStop logo is seen near displayed stock graph in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
PARIS (Reuters) - France is unlikely to see a situation similar to the volatile trade in shares of U.S. video games retailer GameStop, the head of France’s AMF market regulator said on Friday.
“It is improbable in France and Europe, but it is a situation to which we have to pay close attention,” AMF head Robert Ophele told Boursorama TV.
Investors who followed popular Reddit forum WallStreetBets helped push GameStop shares to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken short positions on the stock.
Tech View: Nifty forms indecisive Doji; wait for a breakout now
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For the week, the bias remains positive. Above the 15,250-15,300 range, the index may head towards the 15,500-15,800 range, Palviya said, adding that the 15,000 mark will be a crucial support to watch for on the downside.
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India VIX, the barometer of volatility, dropped 3.93 per cent and fell to 22.13, signalling a waning of nervousness among the traders.
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NEW DELHI: NIfty50 on Friday formed a Doji candle on the daily charts. The index continued to consolidate in a range, as traders looked undecided on the direction of the market amid weak global cues.
Nifty Gann Square of 9 suggests a close above 15,250 could resume the uptrend: Ashish Kyal
In a nutshell, Nifty is flirting around the important Gann level of 15190. A decisive weekly close above 15250 giving some leeway will indicate a resumption of the positive trend. February 12, 2021 / 09:07 AM IST
Nifty has reversed sharply post the Budget. But see Gann levels that worked so extremely well in providing support and resistance to prices.
See the below chart that shows the classic price action area along with an Expanding pattern. The low created just before the Budget day was near to the Gann support of 13748 levels.