Bhopal, Oct 21 | A Mirage 2000 aircraft of the Indian Air Force (IAF) crashed in Madhya Pradesh’s Bhind district on Thursday.
The incident occurred at Mankabagh village near Barauli area of Bhind, which is around 500 km from state capital Bhopal.
The aircraft was being flown by lieutenant Abhilash. A video taken by a local shows pilot gliding down smoothly with the help of a parachute. However, he received minor injuries.
Soon after the crash, the plane caught fire, however, the pilot was ejected safely with minor injuries, said a police official in Bhind district.
“Villagers spotted the aircraft and informed local police. A team rushed to the spot and started rescue operation,” said a senior police official.
The aircraft had taken off from Maharajpura airbase in Gwalior in the morning, a senior airport official told IANS.
“An IAF Mirage 2000 aircraft experienced a technical malfunction during a training sortie in the central sector this morning. The pilot ejected safely,” IAF said adding that an inquiry has been ordered to ascertain the cause of the crash.
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