Nawab Malik, going to Dubai, asks probe agencies to ‘keep an eye’ on him

Nawab Malik, going to Dubai, asks probe agencies to 'keep an eye' on him
Nawab Malik, going to Dubai, asks probe agencies to 'keep an eye' on him

Mumbai, Nov 19 | Maharashtra Minorities Affairs Minister Nawab Malik on Friday announced that he would be travelling to Dubai for four days after taking all requisite Central and State governments’ clearances.

In a tongue-in-cheek farewell tweet, Malik formally requested “all government agencies keep an eye on me and track my movement” while he is abroad.

The Nationalist Congress Party (NCP) National Spokesperson has been in the limelight for carrying out an unprecedented ‘in-depth investigation’ against the Narcotics Control Bureau (NCB) Mumbai Zonal Director Sameer Wankhede on various issues.

Among other things, the minister has gone hammer-and-tongs after the narcotics super-sleuth for allegedly producing fake documents to usurp a plum job in the Indian Revenue Service from the reserved category.

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Through his series of media briefings since early-October, Malik has also slammed Wankhede of questionable links, carrying out a “fraudulent” (farzi) raid on the luxury ship Cordelia Cruise on October 2, allegedly letting off certain select persons or his friends and specifically “targeting” film personalities like Aryan Khan, son of Bollywood megastar Shah Rukh Khan, to get maximum publicity with little recovery of drugs.

Once, he had even accused Wankhede of going to Maldives allegedly to finalise extortion deals with glamour world personalities, which the officer had vehemently denied.

Finally, the cornered Wankhede family moved the Bombay High Court with a defamation suit of Rs 1.25 crore and sought ‘interim relief’ to gag Malik’s defamatory statements in public, which will be decided upon on Monday (November 22)

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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