Peace shall only prevail when people’s rights, dignity protected: CJI

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New Delhi, May 14 | Chief Justice of India (CJI) N.V. Ramana on Saturday said peace shall only prevail when people’s dignity and rights are recognised and protected.

The CJI, who made the remarks after laying the foundation stone of a new high court building complex in Srinagar, emphasized that mere laws were not enough to build tradition, it requires men of high ideals to infuse life in the skeleton of law.

“Denial of justice would ultimately lead to anarchy. Soon the institution of judiciary would be destabilized as people will look for extrajudicial mechanisms. Peace shall only prevail, when people’s dignity and rights are recognised and protected.”

In the speech, he quoted poet Ali Jawad Zaidi to reflect his sentiments and famous Urdu poet Rifat Sarfarosh.

“As poet Raja Basu, an admirer of Kashmir observed, Jammu and Kashmir is the confluence of three great religions — Hinduism, Buddhism and Islam. It is this confluence which is at the heart of our plurality which needs to be sustained and cherished,” said Justice Ramana.

He emphasized that for the functioning of a healthy democracy, it is imperative that the people feel that their rights and dignity are protected and recognised, and expeditious adjudication of disputes is the hallmark of a healthy democracy.

“Mere laws are not enough to build tradition in a country. It requires men of indelible character inspired by high ideals to infuse life and spirit in the skeleton of the laws,” the CJI said.

“Dear Judges and judicial officers, you play a very significant role in our constitutional scheme. The common man always considered the judiciary as the ultimate guardian of rights and liberties.”

He said often, litigants are under a lot of psychological stress and they may be illiterate, unaware of law and have various financial issues and the judges should try to make them feel at ease.

Justice Ramana said sadly, post-independence, judicial infrastructure has not been over-hauled to meet the demands of growing needs of modern India.

“We are far behind in making our courts inclusive and accessible. If we don’t attend to this urgently, the constitutional ideal of access to justice would stand defeated… The condition of judicial infrastructure across the country is far from satisfactory. Courts are operating from rented accommodations and under deplorable conditions.”

The CJI added that one of the major challenges to the protection of rule of law and human rights is the inability of the formal justice system to deliver speedy and affordable justice to all.

“The justice delivery mechanism in India is very complex and expensive. The judiciary must be at its innovative best to ensure that the challenges to its working are met with just and constitutional measures”, he said and added that in a country like India, where a vast digital divide still exists, much needs to be done in order to harness the full potential of technological innovations.

Citing Winston Churchill, the CJI said: “We shape our buildings; thereafter they shape us… Although the persons who will occupy this building would be the members of the Bar, the Bench and their support staff, we must not forget that the focal point of any justice delivery system is the litigant, who is the justice seeker.”

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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