Thiruvananthapuram, Dec 15 | The former Commanding Officer of Group Capt Varun Singh, was disturbed on hearing about the passing away on Wednesday of his subordinate, who was the lone survivor of the chopper crash in which Chief of Defence Staff, Gen Bipin Rawat, his wife Madhulika Rawat and 11 other armed personnel were killed.
Interacting with IANS, Air Commodore B. Balachandran (retd) said Varun Singh was trained in the Fighter Squadron ‘Hawkeyes’ in 2005-06, when he joined as a freshly commissioned Flying Officer and began his flying training in a MiG-21.
“He passed out with flying colours and was always found to be very diligent and was a keen learner. It was this keenness which helped him to be selected for further career progression on the Jaguar aircraft. It’s really sad to hear that he is no more as many wished he will come back and for someone who trained him, it’s even sadder,” he said.
A day after the crash, Varun Singh was rushed to Bengaluru for treatment as his condition was stated to be very critical throughout.
The Group Captain was recently conferred with the Shaurya Chakra by President Ram Nath Kovind for his act of exceptional gallantry.
He was in the chopper along with General Rawat, who was on a visit to Defence Services Staff College at Wellington in Nilgiri Hills to address the faculty and student officers of the Staff Course, when it crashed.
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.
Source: Choice India