Srinagar to hold month-long celebratory events for getting UNESCO recognition

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Srinagar, Nov 9 | Junaid Azim Mattu, mayor of J&K’s Srinagar municipal corporation (SMC) said on Tuesday that month-long celebratory events will be held to celebrate the UNESCO tag of creative city for Srinagar.

Speaking to the media, the mayor called it the biggest day for the entire Srinagar district.

Mattu said that serious efforts have been made by everyone concerned to ensure that Srinagar achieves this milestone.

“We have achieved this milestone after a lot of hardwork and dedication. We have been pursuing this since 2018 and finally after the hard work and serious efforts by SMC Commissioner and other officers concerned, we have finally achieved the milestone. It is the biggest day for whole Srinagar”, Mattu said.

UNESCO on Monday included Srinagar as a creative city for its craft and folk art. In the final list, Srinagar had to closely compete with Gwalior for this year’s slot in the UNESCO list.

The Dossier for Srinagar’s claim was prepared by the J&K chapter of INTACH (Indian national trust for culture and heritage) with the assistance of other concerned agencies.

Saleem Beg, convener of J&K chapter of INTACH said the effort to get Srinagar its UNESCO recognition was started four years back.

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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