43 Houthis killed in Saudi-led airstrikes

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Sanaa, Sep 14 | At least 43 Houthi rebels were killed in Saudi-led airstrikes on Yemen’s Marib province in the past 24 hours, a military source said on Tuesday.

“The airstrikes targeted the rebel positions, gatherings and reinforcements on the frontlines in Sirwah district, killing 43 and destroying nine weapons-mounted vehicles,” the source at the Media Center of the Armed Forces in Marib told Xinhua news agency.

“The airstrikes were a response to the ground attacks launched by the rebels on the (Yemeni) army positions on the frontlines,” he said, claiming that there were no casualties among the pro-government armed forces.

The Houthi-run al-Masirah TV reported 19 Saudi-led airstrikes in the Sirwah district without providing more details.

Last week, the Houthis seized control of Rahabah district in southwestern Marib.

In February, the Houthi militia launched a major offensive on Marib in an attempt to seize control of the oil-rich province, the last northern stronghold of the Saudi-backed Yemeni government.

Yemen’s civil war flared up in late 2014 when the Houthi group seized control of much of the country’s north and forced the internationally recognized government of President Abd-Rabbu Mansour Hadi out of the capital Sanaa.

A Saudi-led Arab coalition intervened in the Yemeni conflict in March 2015 to support Hadi’s government.

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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