‘Love Pakistan balloons’: Kerala Police register case

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Thiruvananthapuram, Jan 11 | A hyper market owner near Kozhikode in Kerala has landed himself in ‘trouble’ after a packet of balloons he sold carried the words ‘Love Pakistan’.

Trouble began when the vernacular newspapers on Tuesday published from the area came out with a news item on this.

Speaking to IANS, managing director of Carrefresh Hypermarket at Azhiyur, Vadakara in Kozhikode district said that they have been in the business for the past five decades.

“The local police came after hearing about this balloon. We told them and showed them the packet of balloons which come in a pack of 100s. This product is made in China. We get this through a Mumbai supplier. These packets are basically sold to people who celebrate birthdays. We just sell this packet to the customers,” said Ajeer.

“We do not inflate any of these balloons. Only after this became news, we opened it and in a packet there are various balloons of size and shapes. A few of the balloons in the packet are ones those when inflated we can see the word “Love Pakistan’. After the police came, we have decided to withdraw this from the counter,” added Ajeer.

“The police have also found out what the real issue is. They said they have to do their duty and a case also has been registered. The police will also probably get in touch with our Mumbai supplier. We have done no wrong at all,” said Ajeer.

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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