Sydney, Jan 17 | Authorities of Australia’s New South Wales (NSW) state warned on Monday that the number of Covid-19 deaths is “likely to be high” over the coming days due to the ongoing surge in community transmission.
The state health department reported 29,504 new Covid-19 cases and 17 deaths in the last 24 hours, reports Xinhua news agency.
Hospitalisation numbers also continue to rise, with 2,776, including 203 in ICU.
Health officials warned that there will be a high number of Covid-19 deaths, as around half of the eligible people in NSW haven’t received their booster dose.
NSW Chief Health Officer Kerry Chant said only one of the 17 people that died had taken their booster shots.
The state’s Premier Dominic Perrottet added that among Monday’s figures, half of the people in ICU were unvaccinated.
“The evidence is clear, and that’s why I continue to ask people right across our state, if you haven’t received that booster shot, please go out and do it,” he said.
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.
Source: Choice India