Congress to celebrate ‘Kisan Vijay Diwas’ nationwide on Saturday

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Congress to celebrate 'Kisan Vijay Diwas' nationwide on Saturday
Congress to celebrate 'Kisan Vijay Diwas' nationwide on Saturday

New Delhi, Nov 20 | After the announcement of repealing all three Union farm laws by the Modi government, the Congress has decided to celebrate ‘Kisan Vijay Diwas’ on Saturday as well as organize a ‘victory rally’ across the country, thereby shifting the party’s political strategy on the issue of farmers’ protest.

After the rollback of petrol and diesel prices across the country, the repeal of farm laws is the second major decision that the Central government has taken after a mass protest by general public.

Now the Congress is all set to cash in on inflation, including all other pressing issues faced by the country. Therefore, All India Congress Committee General Secretary, K.C. Venugopal wrote a letter to all state governments on Friday, saying that after withdrawal of the three Union farm laws, ‘Kisan Vijay Diwas’ will be celebrated by the party across the country on Saturday.

The celebration on the repeal of all three farm laws by the Central government should reach out to the people and a ‘Kisan victory rally’ will be organised. All Congress state unit presidents have given instructions to all party workers right from the district to the block level to celebrate the Kisan Vijay Diwas.

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Earlier, from November 14, the Congress had decided to run a ‘Jan Jagran Abhiyan’ (public awareness campaign) against the policies of the Modi government across the country. Congress had started this campaign on various issues such as hike in petrol-diesel prices, unemployment, inflation etc.

The Congress had decided to hold on foot marches and processions by party leaders and workers on similar lines of the ‘Dandi March’ undertaken by Mahatma Gandhi against the British.

After Congress’ protests, providing a relief to the general public, the Centre levied less excise duty on the prices of petrol and diesel. On Friday, the Union government finally withdrew all three Central farm laws. After such decisions taken by the Centre, the Congress, too, has changed the overall strategy of its Jan Jagran Abhiyan.

The Congress is now making preparations to force the Central government to withdraw all three farm laws in the Parliament. For this the Congress leaders will reach out to the people demanding the Union government assuring the Minimum Support Price (MSP) on crops, loan waiver, removal of GST from agriculture sector and other important issues.

On the other hand, the Congress was instrumental in making the opposition parties stand united while demanding a repeal of all three farm laws during the last Parliament session.

Right from Parliament to the streets, the opposition parties unanimously demanded the withdrawal of all three farm laws. The Commiunist Party Of India-Marxist, Trinamool Congress, Rashtriya Janata Dal, including 20 opposition parties wrote a joint letter to the Central government demanding the withdrawal of these three farm laws.

This time, too, the Congress is trying to unite the opposition parties in the winter session. The party has entrusted this responsibility to the Leader of Opposition in the Rajya Sabha, Mallikarjun Kharge.

After the withdrawal of all three farm laws, Congress President Sonia Gandhi said, “After nearly 12 months of peaceful protests, today the struggle and will power of 62 crore ‘Annadatas’, farmers and farm labourers of the country have finally won. Today the sacrifices of more than 700 farmers’ families paid off, whose family members sacrificed their lives in this struggle for truth, justice and non-violence which ultimately won. I hope that farmers will pay attention to implementation of welfare policies, ensure crop produce at MSP rates and before taking any such step by the Union government in future, all state governments, farmer organizations and opposition parties will be taken into consideration.”

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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