New Delhi, Sep 17 | Hours after the New Zealand cricket team called off its tour of Pakistan just before the start of the first ODI in Rawalpindi, Pakistan Interior Minister Sheikh Rasheed Ahmad said on Friday that the tour was cancelled under an international ‘conspiracy’, Express Tribune reported.
Addressing a press conference in Islamabad, Ahmad said that he will not name the conspirators. However, he added that some forces want to make Pakistan a scapegoat after what has been happening in Afghanistan.
The New Zealand authorities do not have substantive proof of a threat in Pakistan, the minister said, hours after the Kiwis cancelled their tour of Pakistan, Geo TV reported.
Ahmad said New Zealand took a unilateral decision to cancel the Pakistan tour despite the country’s tight security arrangements for the visiting team.
The minister’s press conference came following New Zealand Cricket’s decision to cancel its tour of Pakistan citing a “security alert”, a statement from the Pakistan Cricket Board (PCB) said.
“Earlier today, New Zealand Cricket informed us they had been alerted to some security alert and have unilaterally decided to postpone the series,” the PCB said.
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.
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.
Souce: Choice India