Gadchiroli: 10 Maoists killed in gun-battle with police

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Nagpur, Nov 13 | In a major development, at least 10 Maoists were killed during a fierce encounter with the Maharashtra Police in the deep forests near Dhanora in Gadchiroli district, official sources said here on Saturday.

The gun-battle which started in the early hours of Saturday, was continuing till afternoon with at least 10 fatalities among the Maoists, in the Kolgut-Danat jungles, an official said.

As per initial reports received at the Gadchiroli district headquarters, the encounter was with a Dalam of the banned CPI(Maoist) and commandos of the crack C-60 unit of the Anti Naxal Operations.

There are no casualties among the security forces and a massive combing operation has also been undertaken to detect more bodies of the slain extremists.

Source: IANS

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Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

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.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India

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