Goa may witness 10k-15k Covid cases per day around January 20: Expert

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Panaji, Jan 13 | Goa may witness 10,000 to 15,000 cases per day when the third Covid wave will peak around January 20, according to Dr Shekhar Salkar, a member of the Goa government’s expert committee on Covid management.

Speaking to reporters here, Salkar also took positives in the plateauing of new infections in Maharashtra, saying that in terms of trends and patterns, Goa was 10 to 15 days behind the Mumbai infection cycle.

“Goa has not reached its peak yet vis a vis infections. Positivity is at around 30 per cent. The Omicron wave in Goa is going to be three to four times more than the Delta wave. Infectivity is high. Expectation is that over the next 10 days, maybe by January 20, we will be seeing around 10 to 15000 cases per day. After that new cases will come down,” Salkar said.

“Cases in Mumbai are plateauing over the last three days. The numbers there have not increased. We are around 10-15 days after Mumbai. by January 23-24 our cases may also climb down. But we will see a peak around 20thA(Jan). We may see 10 to 15000 new cases everyday,” Salkar said, describing the next “seven to 10 day” period as a critical one.

“The next seven to ten-day period is most important for us. Even though it (third wave) is less lethal, there could still be pressure on admissions because doctors and sisters are getting infected. We need to take precautions, wear masks, maintain social distancing, sanitisation, etc,” he said.

Goa currently has 14,134 active cases, while the state reported 3,539 new cases on Wednesday.

Source: IANS

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Share Market Weekly Outlook for Next Week

Share Market Weekly Outlook for Next Week

Indian market plummets for the second consecutive week, seems bulls losing their upper hands in the coming days. Index reacted violently grasping Indian as well as global factors throughout the past week.

High oil prices, uncertainty amid Ukraine war, mounting inflation and prospects of aggressive monetary tightening by the U.S. Fed all contributed to poor sentiment. Undoubtedly, the biggest negative sentiment was led by continued inflation all over the world. Sensex sheds 2041.96 points or 3.72 percent while Nifty losses 629.10 points or 3.83 percent in a week. Simultaneously, Bank nifty also lost control over the bears’ dominance. Nonetheless, no sector ended in green while Nifty Energy lost 10.56 percent and remained the prime laggard followed by Nifty PSE, and Nifty Realty losing 5 to 6 percent in a week.

In Nifty stock, BAJAJ AUTO gained 4.07% while TATASTEEL lost 14.54% on a weekly basis. INDIA VIX closes at 23.48 suggesting no sign of relief in volatility. Whenever the market tanks 20% from its peak, it is technically termed as the bear market. Currently the Indian market remains at the edge of 15 percent fall. Technically, on a weekly chart, the index has formed a long bearish candle confirming change in trend from positive to negative side.

Index has also faced resistance around 16300 levels throughout the week. Indicators as RSI still remains in the oversold zone and MACD also indicating no sign of reversal. In the daily chart lower low- lower high formation suggests no major pullback is expected. Coming to the OI monthly Data, on the call side the highest OI witnessed was 16000 followed by 16500 strike price while on the put side, the highest OI was at 15500 followed by 15000 strike price. Overall, Nifty is having support at 15500 mark while on the upside 16100 followed by 16300 may act as an immediate resistance. While Banknifty has support around 32000 while resistance is placed at 34300 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

It was a volatile trading session after a positive opening, Nifty made an intraday high at 16318.75 level but showed downside momentum and tested the 16000 mark and managed to close at 16167.10 level with a loss of 72.95 points.

However, Bank nifty closed the session at 34693.15 level with a gain of 210.50 points. 31 out of Nifty 50 stocks ended in Red which suggest broad based selling. Among sectors, Bank, Commodities indices up by 0.5-0.3 percent each, while IT and Auto indices down by 1 percent each.

Stocks like ONGC, AXISBANK, INDUSINDBK, CIPLA & HDFC ended in green SHREECEM, BAJAJFINSV, LT & BAJFINANCE were the prime laggards.Technically, The Nifty has formed a Hammer Kind of candlestick pattern on a daily chart which indicates value buying from lower levels. Moreover, Nifty has taken support from the lower band of Bollinger on a Four- hourly chart which is a sign of short-term reversal in the counter.

However, the momentum indicators RSI bounced from oversold zone as well as divergence has been seen on an hourly chart which indicates bounce back momentum. The Nifty may find Strong support around 16000 levels, while on the upside 16400 may act as an immediate hurdle for the Nifty crossing above the same can attract fresh buying. On the other hand, Bank nifty has support at 33800 levels while resistance at 35500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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