Mumbai, Oct 29 | The Bombay High Court has allowed a bail to Aryan Khan, the son of Bollywood megastar Shah Rukh Khan, at a Rs 1 lakh bond, as per the orders issued on Friday.
Justice N. W. Sambre, who granted bail to Khan, Arbaaz Merchant and Munmun Dhamecha on Thursday, has asked them to furnish one or more surety and not leave Mumbai or India without the permission of the Narcotics Control Bureau investigating officer.
They have been asked not to indulge in similar activities, not make any public statements about the case, attend the NCB office every Friday between 11 a.m.-2 p.m. and also go there as and when called.
The court has also directed them not to indulge in influencing witnesses in any manner, attempt to delay the trial and attend court on all dates in the order, which will pave the way for the release of the trio later on Friday.
IJustice Sambre had on Thursday evening granted bail to the three youngsters nabbed in the NCB swoop on a cruise ship party on October 2, and the detailed orders were set for Friday.
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