New Delhi, Jan 24 | Covid has still got a “long, long way” to go and is “still very serious” despite some optimism the end is in sight in Europe, the World Health Organisation’s special envoy on the virus said, Sky News reported.
Dr David Nabarro said “it’s as though we’re just passing the halfway mark on a marathon” and it is still not clear how long it will take to reach the end because of the way coronavirus “challenges and surprises”, the report said.
He also criticised politicians and those who continue to make “amazing predictions” claiming Covid should be treated like the flu – while the WHO has said global governments “should not suggest to people” that the “virus has suddenly got incredibly weak”.
Covid is a “new virus, and we must go on treating it as though it is full of surprises, very nasty and rather cunning,” he warned, Sky News reported.
He continued: “I do want everybody to do one thing – and that is to go on treating this virus with respect. It has not changed. It’s absolutely not suddenly become a soft thing – it is still very serious.
“So for me, if the end is in sight, that’s good news. But it’s as though we’re just passing the halfway mark on a marathon and we can see that, yes, there is an end and the fast runners are getting through ahead of us.
“But we’ve still got a long, long way to trudge and it’s going to be tough,” the report said.
On the back of Global Clues and SGX, Nifty opened on a gap down note & continued downside momentum throughout the day and closed the session at 15809.40 level with a loss of 430.90. However, Bank nifty closed the session at 33315.65 level with a loss of 848.05 points.
India VIX closed at 24.56 up by 10.13% which is a sign of more volatility in upcoming sessions.47 stocks out of NIFTY 50 closed in RED which suggest broad based selling. All the sectoral indices were ended in the red with metal, IT indices down 4-5 percent.
Despite one way fall, Stocks like ITC, DRREDDY, POWERGRID were the top gainers, While WIPRO, HCLTECH, INFY, TCS & TECHM were prime losers. On a daily chart, Nifty has formed a Bearish candle which indicates downside momentum for an upcoming session. Moreover, Nifty is showing support from horizontal line i.e., 15750 levels which is make or break level. In addition, Nifty has been sustained above the 21-Monthly Moving Average which indicates a bounce back from lower levels can be seen.
However, the momentum indicators MACD & Stochastic were trading with a negative crossover & trading in oversold zone which is a sign of sideways to negative trend in Nifty. The Nifty may find Strong support around 15700 levels, breaching below it can show more downside till 15500 levels while on the upside 16000 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32800 levels while resistance at 34500 levels.
Source: Choice India