Pak FM visits Chinese nationals injured in terror attack

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Rawalpindi, July 19 | Pakistan Foreign Minister Shah Mahmood Qureshi visited the injured Chinese nationals from the Dasu terrorist attack at the Combined Military Hospital in Rawalpindi.

Qureshi was accompanied by Foreign Secretary Sohail Mahmood and Chinese Ambassador to Pakistan Nong Rong during the visit on Sunday, reports Xinhua news agency.

Qureshi asked in detail about the condition of and treatment for each wounded Chinese national, and promised that the best treatment will be provided to help them recover at an early date.

Talking to reporters, he said that Pakistan and China “have collectively fought challenges in the past, and we have undertaken development projects in the past, which has mutually benefited China and Pakistan”.

“We are aware of the fact that there are elements who do not want to see development activities in Pakistan… they have undertaken this cowardly act,” he added.

He said that Pakistan will work with China to do everything possible to trace the culprits and bring them to justice.

On July 14, the shuttle vehicles of the Dasu Hydropower Project, for which a Chinese company is contracted to build, were hit by a blast when they were heading to the construction site in Khyber Pakhtunkhwa province, leaving nine Chinese nationals and three Pakistanis dead.

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.

sharemarket weekly updates bhaskarlive

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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