Kisan Maha Panchayat firm on demands, protests to continue

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Kisan Maha Panchayat firm on demands, protests to continue
Kisan Maha Panchayat firm on demands, protests to continue

Lucknow, Nov 22 | The Kisan Maha Panchayat in Lucknow on Monday was a firm reiteration of the six-point charter of demands that farmers have submitted to the Prime Minister.

The Sanyukta Kisan Morcha, an umbrella organisation of the farmers’ unions, said that their protests would continue till their demands, including guarantee for minimum support price and dismissal of Union Minister Ajay Misra Teni, were met.

Addressing thousands of farmers from several states, BKU spokesperson Rakesh Tikait said, “Our ‘andolan’ is not going to end till all our demands are met. We will hold similar panchayats across the country and those who think that the issue is over, are sadly mistaken.”

He said that MSP guarantee was their foremost demand.

“We want to make the minimum support price (MSP) that is based on the formula of C2+50 per cent (means 50 per cent above the cost of production) as a legal right for all crops and for all farmers. In our letter, we have reminded the Prime Minister that it was a committee under his chair that had in 2011 recommended this to the then Prime Minister and his government later announced it in Parliament too,” said Tikait.

A large number of farmers at the Maha Panchayat came from Lakhimpur Kheri and the issue of the October 3 incident in which four farmers were allegedly mowed down by an SUV belonging to Union Minister Ajay Misra Teni’s son Ashish Misra, figured prominently at the Maha Panchayat.

Kisan Mahapanchayat in Lucknow on Monday

The farmers demanded the dismissal and arrest of the minister who is also an accused in the case. His son Ashish Misra is already in jail.

Tikait said that he had learnt that the government was bringing a new policy on dairy development and the farmers wanted that they should be consulted on the issue.

He said that the next meeting of the farmers would be held on Delhi borders on November 26.

The farmers, meanwhile, demanded land at Singhu border for a memorial in memory of farmers who had lost their lives during the agitation.

Tikait also sought compensation for the families of deceased farmers.

The other demands included the withdrawal of the Power Regulation Amendment Bill, withdrawal of all cases related to the Delhi border agitation and stubble burning.

The Samyukt Kisan Morcha (SKM) on Sunday put forth six conditions in an open letter to the Prime Minister and threatened to continue the agitation if the government failed to discuss these with the farmers.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

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.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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