Srinagar shivers at minus 1.2, Drass in deep freeze at minus 13.4


Srinagar, Nov 16 | As mercury continued its free fall, Srinagar on Tuesday recorded minus 1.2, the coldest so far this season, while the temperature in Drass town of Ladakh dropped to a bone chilling minimum of minus 13.4.

An official of the MeT department said due to clear night sky, the minimum temperatures across J&K and Ladakh dropped further on Tuesday.

“At minus 1.2 Srinagar recorded the coldest night so far while Pahalgam and Gulmarg had minus 4.7 and minus 1.2 respectively”.

The official said Leh town of Ladakh had minus 10.8 and Kargil minus 6.8 as the night’s lowest temperature.

Jammu city and Katra, both had 9.7, Batote 6.3, Banihal 5.0 and Bhaderwah 1.7.

“A weak western disturbance (WD) is likely to pass over J&K and Ladakh on Wednesday and Thursday.

“Under the influence of this WD there is likelihood of rise in night temperatures and drop in day temperatures during this period,” the official said.

Source: IANS

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Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

On the back of Global Clues and SGX, Nifty opened on a gap down note & continued downside momentum throughout the day and closed the session at 15809.40 level with a loss of 430.90. However, Bank nifty closed the session at 33315.65 level with a loss of 848.05 points.

India VIX closed at 24.56 up by 10.13% which is a sign of more volatility in upcoming sessions.47 stocks out of NIFTY 50 closed in RED which suggest broad based selling. All the sectoral indices were ended in the red with metal, IT indices down 4-5 percent.

Despite one way fall, Stocks like ITC, DRREDDY, POWERGRID were the top gainers, While WIPRO, HCLTECH, INFY, TCS & TECHM were prime losers. On a daily chart, Nifty has formed a Bearish candle which indicates downside momentum for an upcoming session. Moreover, Nifty is showing support from horizontal line i.e., 15750 levels which is make or break level. In addition, Nifty has been sustained above the 21-Monthly Moving Average which indicates a bounce back from lower levels can be seen.

However, the momentum indicators MACD & Stochastic were trading with a negative crossover & trading in oversold zone which is a sign of sideways to negative trend in Nifty. The Nifty may find Strong support around 15700 levels, breaching below it can show more downside till 15500 levels while on the upside 16000 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32800 levels while resistance at 34500 levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India


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