Farmers turn down Ajay Mishra Teni’s request for meeting

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Lakhimpur Kheri (UP), Nov 3 | Farmers in Lakhimpur Kheri have turned down the olive branch extended to them by Union Minister Ajay Mishra Teni, an accused in the October 3 incident in which four farmers were mowed down by his car.

The minister had called the farmers for a meeting at his residence on Tuesday to address problems related to paddy procurement and also to settle the October 3 violence case in which his son, Ashish, is the main accused.

Ashish is in jail and the case is being investigated by a special investigation team (SIT).

Leaders of the Sikh community held an emergency meeting at a gurdwara and asked farmers of the area to skip the meeting.

Jasbir Singh Virk, president of Bhartiya Sikh Sangthan, said, “We have unanimously decided not to go to his house for the meeting. We have nothing to do with him. He may try to lure our farmers by offering a higher price for their paddy, but he should remember that he cannot compensate for the lives lost in the October 3 incident. If any member of the Sikh community keeps any relationship with Mishra or his family the entire Sikh Samaj will boycott that person.”

The family of Lovepreet, who was mowed down by a vehicle belonging to the minister, said, “The minister had sent an invitation through his men for a meeting to settle the case and arrive at a compromise. They also offered support in crop procurement but we refused.”

“No action has been taken against the minister yet. We have nothing to do with him and his men,” the farmers said.

A SIT member, meanwhile, said, “We are investigating the case. We have provided security to all the witnesses. If anyone faces any threat or any pressure is being put on him/her, then he/she may give a complaint in writing to us or to the local police. Appropriate action will be taken.”

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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