Air Force gives presentation to Defence Minister on CDS chopper crash inquiry report


New Delhi, Jan 5 | Indian Air Force (IAF) chief V.R. Chaudhary met Defence Minister Rajnath Singh on Wednesday and gave him a detailed presentation on the CDS chopper crash inquiry report.

The tragic incident happened on December 8, 2021, when a military helicopter crashed near Nilgiri hills in Tamil Nadu, costing 14 lives including Chief of Defence Staff Gen Bipin Rawat, his wife and other military personnel.

Air Chief Marshal Chaudhary went to the official residence of the Defence Minister and made the presentation. A tri-service inquiry was ordered after the crash to probe the reasons of this accident.

It is believed that the MI-17v5 pilot may have been left disoriented by inclement weather and accidentally flown into terrains. This is referred to as CFIT, or Controlled Flight Into Terrain.

Sources said the inquiry ruled out any possibility of technical errors or mechanical defects. The chopper was a Russian made Mi-17V5 helicopter, considered extremely reliable and safe. The crew was led by group captain Varun Singh, a very experienced pilot of Indian Air Force.

The tri-service inquiry was led by Air Marshal Manvendra Singh, known as India’s top chopper pilot. He served as the director general of inspection and flight safety before. The tri-services probe report has given its findings on reasons behind the crash & made recommendations for the future chopper operations for flying VIPs.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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