Finally, Bombay HC grants bail to Aryan, Arbaaz and Munmun (Ld)

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Mumbai, Oct 28 | In a major relief, the Bombay High Court on Thursday granted bail to Aryan Khan, Arbaaz Merchant and Munmun Dhamecha who were nabbed in the cruise ship rave party raided by the Narcotics Control Bureau.

While granting a conditional bail to the trio, Justice N.W. Sambre passed the operative order and the detailed order is expected on Friday.

Accordingly, the trio of Khan, Merchant and Dhamecha will not step out of the jails till the court’s orders are received, said a defence lawyer.

The accused trio — along with five others — were detained on October 2 when the NCB swooped on the alleged rave party aboard the Cordelia Cruise ship.

The following day (October 3) they were formally arrested and have been away from their homes for the past 27 days as their case grabbed national attention.

Later, during the investigations, the NCB had nabbed another 12 more persons some of whom have secured bail from the Special NDPS Court.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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