Aus surpasses 2020 Covid death toll amid 3rd wave

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Canberra, Nov 8 | Australia’s coronavirus death toll for 2021 has surpassed that of last year as the country continues to battle the third wave of the pandemic.

On Monday, the country reported 12 new Covid fatalities, taking the nationwide death toll to 1,827, reports Xinhua news agency.

Of those, 918 have occurred in 2021 compared to 909 in 2020.

New South Wales (NSW), Australia’s most populous state, has accounted for 544, or 59 per cent, of the deaths in 2021.

By comparison, more than 90 per cent of Australia’s coronavirus deaths in 2020 were in Victoria, the country’s second-most populous state.

According to federal government data, 35 per cent of Australians who died with Covid-19 were in their 80s, 23 per cent in their 90s and 20 per cent in their 70s.

Also on Monday, there were 1,300 new locally-acquired Covid-19 cases, of which 1,126 were recorded on Victora.

The new cases increased the overall infection tally to 181,617.

Australia on Monday started its Covid-19 booster vaccination program, with anyone aged 18 and over who had their second dose at least six months ago eligible for a third shot.

So far about 89.3 per cent of Australians aged 16 and over have received one vaccine dose and 80.5 per cent were fully inoculated, according to the Department of Health.

Greg Hunt, the minister of health, said that in the context of boosters, it is important that people know that two doses of the Covid-19 vaccine provide very good protection, especially against severe disease.

“A booster dose, six or more months after the second dose, will make sure that the protection from the first doses is even stronger and longer lasting and should help prevent spread of the virus,” he said in a statement.

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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