Maoist carrying Rs 15L bounty killed in Jharkhand

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Ranchi, July 15 | Security forces on Friday neutralised a dreaded Maoist carrying a Rs 15 lakh reward on his head in a fierce shootout in the densely forested Krurmgrah area in Jharkhand’s Gumla district. The Maoist was wanted for his involvement in at least 53 criminal offences including 20 murders and more than a dozen cases of attempt to murder.

A joint team of the Central Reserve Police Force’s (CRPF) 209 Commando Battalion for Resolute Action (CoBRA) unit and Jharkhand Police neutralised notorious Maoist Budeshwar Oraon.

“The security forces were persistently tracking Budeshwar who had terrorised the area and had been chargesheeted and named in at least 53 criminal offences including 20 murders and more than a dozen cases of attempt to murder,” the CRPF said.

The Jharkhand government had announced a reward of Rs 15 lakh on his head, it said.

Oraon and his team of armed Maoists were surrounded by the security forces based on intelligence inputs. The shootout started when the Maoists opened heavy fire on the troopers from well entrenched positions.

“The troopers retaliated and in the ensuing gun battle, Budeshwar Oraon alias Lullha, 45, was neutralised.”

As the firing subsided for a short while, the troopers recovered the body of the Maoist along with an AK-47 rifle.

The CRPF said that the “operation is still on”.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered with modest gain against the resilient global cues. Throughout the week, Sensex traded in a narrow range following an uneven move. Sensex ended at 54884.66 gaining 558 points or 1.03 percent while Nifty settled at 16352.45 with 86 points or 0.53 percent on a weekly basis. While Banknifty ended at 35613.30 levels with strong bounce with an upside of 3.90 percent in a week.

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INDIA VIX has cooled off during the week with 7.01 percent and has settled at 21.48 levels. Investors and traders may watch out key events such as the RBI meet in the second week as well as the US Fed meeting likely to be on 14-15 June for monthly expiry. As corporate results are likely to end soon stocks would expect less volatility in upcoming days. In Nifty stocks, HDFCLIFE gained 9.61 percent while DIVISLAB shed 18.41 percent in a week. Sectorally Nifty Finance saw the highest gains of 4.32 percent followed by the Nifty Auto with 3.26 percent. On the flip side Nifty Pharma, Energy, Realty and PSE lose more than 3 percent each on a weekly basis. However Midcap gained 0.77 percent while Smal lcap dropped by 3.42 percent.

Technically, Nifty has formed a bullish candle on the weekly chart with a long tail suggesting strong support around 15900 levels, while on the upside 16800 may act as strong resistance. Index has taken support from the previous horizontal line & closed above 21-days Simple Moving Averages that indicates further pullback rally in the near term.

Indicators such as RSI remained in the neutral zone while MACD suggest some positive cross over observed in daily time frame suggest some sign of reversal. Coming to the OI Data, on the call side the highest OI witnessed was 16500 followed by 16800 strike prices while on the put side, the highest OI was at 16000 strike price. Overall, Nifty is having support at 16000 mark while on the upside 16500 followed by 16750 may act as an immediate resistance. While Bank nifty has support around 34300 while resistance is placed at 36800 on weekly chart.

Om Mehera
Research Associates
Choices Broking

Souce: Choice India

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