ECI holds meet to review request to defer Punjab polls


New Delhi, Jan 17 | The Election Commission of India is holding a meeting to review its decision on Punjab Assembly elections scheduled to be held on February 14.

After the ruling Congress party, the BJP and the Aam Aadmi Party also requested the poll panel to defer the polling on February 14 as it is close to the Ravidas Jayanti on February 16.

Submitting a written request, the Congress Party on January 13 said that over 20 lakh Schedule Caste voters go to the religious visit to the places related to Sant Ravidas ji. The Party further said that a sizable number of SC voters visit Varanasi from February 10 to 16 every year, therefore, the scheduled date for the polling in Punjab should be postponed till Ravidas Jayanti.

Later the BJP also made a similar request to the EC, reiterating the same reason and said many of the voters will either miss their religious trip or skip voting on February 14.

The Aam Aadmi party on Monday also made the same request to the Commission citing Ravidas Jayanti.

Sources close to the ECI said that it is reviewing all options as it needs to reschedule the poll date by one week or so. They also said that the assembly polls in the state will be held in a single phase, therefore, the EC will take a call on the political parties’ request after considering all aspects of the electioneering process as scheduled earlier.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

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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