Stocks in Focus: GIFT Nifty traded up 54.5 points or 0.26% at  21,079.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Monday, the NSE Nifty 50 dipped 90.70 points or 0.43% to settle at 20,906.40, while the BSE Sensex dropped 377.50 points or 0.54% to 69,551.03. 

“The Nifty has formed a bearish engulfing pattern on the daily chart, suggesting a possibility of a bearish reversal. On the higher end call writers have built a heavy position at 21000. On the lower end, put writers are heavily present at 20,800 and 20,900. Therefore, the Nifty is likely to remain mostly sideways to negative as long as it remains below 21000. Only a decisive move above 21,000 might induce a resumption of …