Johannesburg, Nov 18 | South Africa is likely to experience a fourth wave of the Covid-19 pandemic but the numbers of hospital admissions and deaths will probably not be as high, a senior epidemiologist said.
“The numbers of infections and detected cases may be comparable to earlier waves,” said Harry Moultrie, senior medical epidemiologist at the National Institute for Communicable Diseases, citing the new scenario model conducted by the South African Covid-19 Modelling Consortium.
However, Moultrie said, the ratios of admissions and deaths to infections are expected to be “substantially lower” than in previous waves, “as a result of the vaccination coverage, particularly among the elderly, and protection from prior exposure”. reports Xinhua news agency
He also urged the public to continue keeping social distancing and avoiding crowded indoor spaces.
The Covid-19 modelling consortium was established to project the spread of the disease to support policy and planning in South Africa over the coming months.
The daily new infections in the African country continued to decline in the past two months, with the latest seven-day rolling average below 300.
The peak of the third wave saw around 20,000 new cases per day in July.
As of Friday, the country has registered 2,926,914 confirmed cases and 89,515 deaths, according to the Johns Hopkins University.
The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.
While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.
Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.
Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.
Source: Choice India