BJP likely to contest from urban and semi-urban Assembly seats in Punjab


New Delhi, Dec 27 | The BJP is expected to contest the urban Assembly seats in Punjab in alliance with former Chief Minister Captain Amarinder Singh’s Punjab Lok Congress (PCL).

Sources in the saffron party said that the former chief minister’s Punjab Lok Congress will field its candidate from the Assembly constituencies in the rural areas.

Both the parties, however, announced to contest the Assembly polls together, but they have yet to announce formula for seat sharing. Sources claimed that the former Punjab chief minister was likely to meet senior BJP leaders and finalise the formula on Monday.

In an attempt to become a political force to be reckoned with in Punjab, the BJP is likely to get all the urban Assembly constituencies in the upcoming polls in alliance. The saffron party is putting extra efforts to win these urban Assembly constituencies.

Sources claimed that the BJP will get a major share and expect to contest from more than half of the seat. “We will have a majority share and most of the Assembly seats are urban and semi urban areas. There are over three dozen urban seats and we are likely to get all the seats. We also get some semi-urban seats,” a BJP leader said.

Earlier this month, the BJP and former chief minister Amarinder Singh had announced to fight the forthcoming Assembly election together. “Our alliance is confirmed. Only seat-sharing talks are going on. We will see who will contest which seats and winnability is the sole criteria for deciding seats. Where the BJP will contest we will support and they will support us on the seats we will be contesting. We are prepared and will win the election. 101 per cent sure of winning the election. We are no in contest with anyone,” former chief minister had said.

Punjab election will be held in February – March next year along with Uttar Pradesh, Uttarakhand, Manipur and Goa. Earlier, after its alliance broke up with its oldest partner Shiromani Akali Dal (SAD), the BJP has announced to contest all the 117 Assembly seats in Punjab. In 2017, the BJP had won three seats out of the 23 it contested.

Source: IANS

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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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