3 held with over 35 kg drugs in Lucknow

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Lucknow, Nov 10 | Three members of a gang that was allegedly running a drug racket in Lucknow have been arrested in a joint operation by the Mahanagar police and the crime branch.

The arrested have been identified as Anwar, Purshottam and Atul Kumar. They were arrested from Sarvodaya Nagar on Tuesday.

The police also recovered 35.5 kg of drugs from their possession.

Station House Officer (SHO) Mahanagar, Ashish Dwivedi, said they were conducting a checking drive at Sarvodaya Nagar bridge when an SUV was intercepted.

“When we asked the driver to stop the car, the passengers ran away from the SUV,” said the SHO.

The police chased them and nabbed them. During interrogation the trio confessed that they were hiding opium peels (a type of drug) in three plastic sacks in the car.

Dwivedi said that the weight of the recovered drugs was 35.5 kg.

All the three accused have been booked under NDPS Act, while the SUV was seized under MV Act.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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