Chandigarh, May 14 | In a major crackdown on the nexus of gangsters and criminals operating from jails, the Punjab government teams have confiscated 710 mobile phones from prisons in a specially-launched drive. Additionally, Chief Minister Bhagwant Mann has decided to abandon the special cells in jails for VIP prisoners.
Divulging the details, the Chief Minister said that “during this special drive carried out between March 16 and May 10, a total of 710 mobile phones have been recovered from jail inmates”.
He said these phones were used by gangsters and smugglers to run their rackets from inside the jail.
The Chief Minister said that a probe is on to nab the persons on whose names these numbers were registered.
He also said that action will be taken against the jail staff who were involved in sneaking these phones into the prisons.
For abolishing VIP culture in jails, the government has decided to abandon the VIP cells and transform them into administrative blocks.
The Chief Minister said that those lodged in jails are punished by courts for violating the law, and they cannot enjoy facilities while serving a jail term.
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.
Source: Choice India