Modi inaugurates UP e-way, slams ‘previous govt’

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Sultanpur (Uttar Pradesh), Nov 16 | Prime Minister Narendra Modi, on Tuesday, inaugurated the 341-kilometre long Purvanchal Expressway and termed it as the ‘pathway to development of new UP’.

He also slammed previous governments for lack of development and lauded the development push given by Chief Minister Yogi Adityanath.

Speaking on the occasion, the Prime Minister said that anyone who has any doubts about the capabilities of Uttar Pradesh and its people should come to Sultanpur today to witness their capability.

“Three years ago, when I laid the foundation stone of this expressway, there was just plain land here and today, we have this modern expressway where I have landed in an aircraft,” he said

He said that the expressway, besides adding a new chapter to connectivity, would give an impetus to industrial development and strengthen the economic backbone of the state.

The Prime Minister said that the country’s security was as important as its prosperity.

“The Purvanchal Expressway has now become one more power for the Indian Air Force in cases of emergency. Our fighter planes can land on the expressway,” he said.

The Prime Minister also mounted a blistering attack on the ‘previous government’ (read SP government) without taking names.

“The politics done in UP, the manner in which govts were run for a long time — they did not pay attention to the all-round and holistic development. One region of UP and its people were given away to the mafia and poverty. For previous chief ministers, development was limited to their families and where they had their homes. Previous UP government only cared about their family wealth,” he said.

“I was anguished to know that the previous government did not cooperate with us. Their leaders were even hesitant to stand with me. They would welcome me at the airport and then vanish for fear of their vote bank,” he said.

He said that for years, the partnership of dynastic families crushed Uttar Pradesh’s aspirations and did not develop defence infrastructure. The upcoming defence corridor is now a major step in this direction,” he said.

Continuing his attack on ‘previous government, Modi said that earlier there were no roads but people of UP were looted on highways.

He said that when he was elected from Uttar Pradesh, he decided that as ‘Pradhan sevak’, it was his duty to transform UP.

“Seeing the situation in UP, 7-8 years ago, I used to wonder what some people are punishing UP for. In 2014, when UP gave me the opportunity to serve the great land of India, I started many developmental works for the development of UP,” he said.

The Prime Minister lauded Chief Minister Yogi Adityanath for giving a major push to development on the concept of ‘Sabka Saath, Sabka Vikas’ and without any consideration of caste, family or region.

Chief Minister Yogi Adityanath welcomed the Prime minister and gifted him a model of the Ram Temple being built in Ayodhya.

Later, a scintillating air show was held at the venue, displaying the air power of the Indian Air Force.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

On a weekly expiry day, Nifty opened on positive note and have a dip to make an intraday low at 15367.50 level but showed bounce back moment as managed to close at 15556.65 level with a gain of 143 points. Bank Nifty closed the session at 33135 level with a gain of 289.70 points. 45 Out of Nifty 50 ended in green which suggest broad based buying.

All the sectoral indices managed to close in green expect Energy while Nifty Auto was top gainer. Among Nifty Stock, MARUTI, EICHERMOT, HEROMOTOCO & M&M were the top gainers, While RELIANCE, COALINDIA, POWERGRID & GRASIM were the prima laggards. India VIX closed at 20.88 level with a loss of 1.97%. On Technical Front, The Nifty has formed bullish candle but faced resistance at 21 Four-Hourly Moving Average i.e., 15647 which suggest crossing above the same can show more upside rally.

Nifty has been trading in range of 15200-15700 level while breaching either side can suggest further direction of breakouts. Nifty has given above 50-Hourly Moving Averages which indicate it can show upside moment in the counter. On the Nifty OI Data, On the call side ,the highest OI witnessed at 16000 level while on the put side was at 15500 Niftg level followed by 15300 levels. The momentum indicators Stochastic is trading with a positive crossover on a daily chart which suggest northward journey in the Nifty.

The Nifty may find support around 15200 levels while on the upside 15700 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32300 levels while resistance at 33800 levels.

Overall, Sector specific momentum has been observed, crossing above 15700 Nifty can show more upside rally.

Market entering into buy on dips pattern.

Palak Kothari
Senior Technical Analyst
Choice Broking

Source: Choice India

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