Inclement weather to continue in J&K, Ladakh till Jan 9


Srinagar, Jan 6 | Moderate to heavy snowfall occurred in the higher reaches of Jammu and Kashmir and Ladakh on Thursday as the weather office has forecast inclement weather till January 9.

“Weather is likely to remain inclement during the next three days while another spell of rain/snow is expected to occur on January 8,” an official of the Met Department said.

Authorities have issued an avalanche warning for the higher reaches and have advised residents of these areas not to leave their homes.

Srinagar recorded 0.3, Pahalgam minus 0.8 and Gulmarg minus 3.5 degrees Celsius as the minimum temperature on THursday.

Drass town of Ladakh had minus 5.9, Leh minus 5.0 and Kargil minus 7.6 as the minimum.

Jammu city registered 10.3, Katra 7.6, Batote minus 1.1, Banihal zero and Bhaderwah 1.1 as the night’s lowest temperature.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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