Biden says he’s mulling US diplomatic boycott of Winter Olympics in Beijing

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New Delhi, Nov 19 | US President Joe Biden has confirmed that he is mulling a diplomatic boycott of the upcoming Winter Olympics in Beijing, CNN reported.

“It’s something we’re considering,” Biden told reporters in the Oval Office following a bilateral meeting with Canadian Prime Minister Justin Trudeau.

A senior administration official told CNN that Biden is not expected to attend the upcoming Olympics in China in February 2022 and that his administration is on the verge of implementing a diplomatic boycott of the games, the report said.

The President has not signed off on having no government officials attend, the senior administration official cautioned on Wednesday, but discussions regarding the matter have all leaned in that direction, the report added.

White House Press Secretary Jen Psaki said Thursday afternoon that the decision to consider a boycott of the Olympics “doesn’t say anything” about the Biden-Xi meeting.

“(W)e’ve said from … the beginning of this administration, as it relates to how we engage with China, that we see it through the prism of competition, not conflict,” Psaki added.

Psaki repeated the administration’s serious concerns about China’s human rights abuses, adding that “certainly, there are a range of factors as we look at what our presence would be”.

When pressed for more information about what a potential diplomatic boycott would entail, and what that would mean for athletes, Psaki said she didn’t have an update about what the US presence would be.

Republican and Democratic lawmakers, including House Speaker Nancy Pelosi, have advocated for a diplomatic boycott in protest of China’s human rights abuses.

Some Republicans have even suggested no American athletes attend either, but the official said a full boycott is unlikely right now, the report added.

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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