Lucknow, Jan 17 | Even though there has been no formal merger of the Pragatisheel Samajwadi Party Lohia (PSPL) into the Samajwadi Party (SP), PSPL president Shivpal Singh Yadav has said that he and his party candidates will contest on the SP symbol.
Shivpal Yadav said that though his party had been allotted an election symbol — stool — but there was very little time left to popularise it.
Earlier, the PSPL had been allotted a ‘key’ as its poll symbol.
“I have decided that we will contest on the SP symbol and will defeat the Bhartiya Janata Party (BJP),” he claimed and reiterated that he had accepted SP chief Akhilesh Yadav as his leader.
“When I have accepted Akhilesh as my leader then why should there be any confusion on contesting polls under his leadership?”
Shivpal also responded to speculations that his daughter-in-law Aparna Yadav was joining the BJP.
“Aparna should stay in the family and SP and work for the people. She will certainly get the reward at appropriate time,” he said.
Aparna Yadav had contested the 2017 polls from Lucknow Cantonment Assembly constituency on an SP ticket but she lost to the BJP’s Rita Bahuguna Joshi.
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.
Source: Choice India