Pak SC warns of summoning Imran Khan if detainee not produced

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New Delhi, Jan 4 | Chief Justice of Pakistan (CJP) Justice Gulzar Ahmed has warned that the Supreme Court will not hesitate to summon rime Minister Imran Khan if Arif Gull, detained at an internment centre in Kohat since 2019, was not produced before it on Tuesday, Dawn new reported.

“Should we seal the courts if Arif Gull cannot be produced?” the CJP queried during Monday’s hearing.

Justice Gulzar headed a three-judge Supreme Court bench that had taken up a habeas corpus petition moved by a relative of Gull seeking information about his whereabouts.

Last week, the Supreme Court had ordered production of the detainee on Monday.

But the court accepted a statement by Shumail Butt, the advocate general for Khyber Pakhtunkhwa, and Additional Attorney General Sajid Ilyas that it was impossible to produce Gull on Monday due to the distance between Islamabad and Kohat.

The Supreme Court put off further hearing with a directive to produce the accused by Tuesday, the Dawn news report said.

Gull is facing an allegation of attacking the checkpost of a security force at Kandau, near the border with Afghanistan, in 2019 and since then he has been under detention at the Kohat internment centre.

“Would the edifice of the Supreme Court crumble if Arif Gull is produced before the court? We should lock the court if the person cannot be produced before it,” the CJP said.

Justice Ahmed told the advocate general the judiciary had the powers to summon the “entire defence machinery” if Gull was not brought to the court.

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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