Nadda on two-day visit to poll-bound Goa from today

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Nadda on two-day visit to poll-bound Goa from today
Nadda on two-day visit to poll-bound Goa from today

New Delhi, Nov 24 | BJP National President J.P. Nadda will be on a two-day visit to poll-bound Goa from Wednesday to oversee the party’s preparations for the upcoming state assembly elections.

According to sources, during his visit, apart from meeting the party workers, Nadda will also address a conference of doctors as part of the party’s campaign to communicate with the intellectuals.

The BJP president will reach Goa late in the evening on Wednesday and will interact with the doctors in the night. Around 300 doctors from various fields including allopathic, homeopathic and ayurvedic will participate in the program.

Meanwhile, on Thursday, the second day of his visit, Nadda will hold a conference with the party workers engaged in the election campaign.

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He will also meet the state election in-charge, Chief Minister, state president and other top leaders of the state to discuss the electoral situation in the state, as well as the party’s election strategy.

Before reaching Goa, Nadda will visit Coimbatore in Tamil Nadu on Wednesday will leave for Tiruppur to inaugurate the party’s new district office.

He will also inaugurate the new district offices of the party in Erode, Tirunelveli and Tirupattur through video conferencing.

The BJP president will attend several other party programs in Tamil Nadu, address a public meeting, after that will leave for Goa.

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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