AAP MLA Amanatullah Khan gets bail a day after his arrest

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New Delhi, May 13 | A court here on Friday granted bail to Aam Aadmi Party (AAP) MLA Amanatullah Khan, who was arrested a day before for ‘rioting’ and ‘obstructing’ South Delhi Municipal Corporation (SDMC) officials during an anti-encroachment drive in the Madanpur Khadar area of the national capital.

As per the FIR, the AAP legislator along with five of his supporters were charged under the relevant sections of the Indian Penal Code. Khan was granted bail by the Saket Court of the city.

On Thursday, the AAP MLA reached the site where people were protesting against the corporation officials. While speaking to the media, Khan accused the civic agency of demolishing the houses of the poor people.

The police registered FIR against Khan and his supporters in various sections of the IPC, including obstructing public servant in discharge of public functions, assault or criminal force to deter public servant from discharge of his duty, rioting, armed with deadly weapon, being member of an unlawful assembly, and wantonly giving provocation with intent to cause riot.

Violence erupted during the drive when some people, infuriated over the process, pelted stones at the security personnel, and police then undertook a baton charge to disperse the mob.

As per the sources, Amanatullah Khan had been declared a “history-sheeter” and a “bad character” of the Jamia Nagar area by the Delhi Police due to the large number of crimes he was accused of.

According to an official document, a copy of which is with IANS, MLA Khan had been previously involved in 18 cases and was declared a “bad character” of the Jamia Nagar area on March 30.

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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