Blast near Hafiz Saeed’s house in Lahore claims 2 lives, injures over 15

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By Hamza Ameer
Lahore, June 23 |
At least two people have died while over 15 persons have been critically injured in a massive bomb blast in the Joher town area in Lahore on Wednesday.

As per police sources, an explosive laden vehicle exploded near a police check-post located near the Allah Hu Boulevard in Joher town.

The intensity of the blast was so severe that several nearby buildings developed cracks, while the windowpanes of many houses and vehicles parked in the area were shattered.

Official sources confirmed that the injured persons include women and children, who have been taken to nearby hospitals. Local people have been urged to visit the hospitals to donate blood.

The injured persons also include police officers, who are also being treated in the nearby hospitals. Their condition is stated to be critical.

Security forces have cordoned off the area while the officers of the Counter Terrorism Department are working towards ascertaining the cause of the blast.

“We will only be able to determine the cause after carrying out an investigation,” said Inam Ghani, Inspector General of Punjab Police.

As per eyewitnesses, the intensity of the blast was huge. However, some of the eyewitnesses claimed that the explosive was planted on a motorcycle.

It is pertinent to mention here that the target of the vehicle carrying the explosives may have been the residence of Mumbai terror attack mastermind Hafiz Saeed, whose house is located in the same area.

The security check-post, near which the blast occurred, is close to the residence of Hafiz Saeed.

Ghani said that the target of the attackers seems to be the security officials.

Meanwhile, Punjab Chief Minister Usman Buzdar has taken note of the blast and has directed the IG to investigate the matter and submit a report on priority.

“Those responsible for the blast should be brought under the law,” Budzar said.

Meanwhile, Ghani said that a foreign hand is always present in such terror attacks, adding that hostile foreign agencies trying to target security officials and spread fear would not succeed in defeating the ongoing fight against terrorism.

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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