Storm-triggered incidents kill 5 in Pakistan

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Islamabad, June 13 | Five people were killed and six others injured in separate rain and windstorm-triggered incidents in Pakistan’s Khyber Pakhtunkhwa, the Provincial Disaster Management Authority (PDMA) said.

Eight houses also collapsed when heavy rains coupled with strong winds lashed the province, the PDMA said in a statement on Saturday.

The district administration of all areas of the province was directed to stay alert for providing rescue and relief activities if some weather-related emergency occurs in their districts, Xinhua news agency quoted the statement as saying.

Meanwhile, one of the main highways in a tourist attraction of Chitral district was blocked due to erosion of a river passing by it, and efforts to repair and find an alternate path for vehicles is underway, the PDMA said.

The injured people were shifted to nearby hospitals for treatment.

The Pakistan Meteorological Department has forecast more rains in Khyber Pakhtunkhwa and the neighbouring Punjab province on Sunday, issuing a warning of urban flooding in low-lying areas.

The weather office also advised tourists intending to visit resorts in Khyber Pakhtunkhwa and upper Punjab to check weather conditions before planning their trip.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered with modest gain against the resilient global cues. Throughout the week, Sensex traded in a narrow range following an uneven move. Sensex ended at 54884.66 gaining 558 points or 1.03 percent while Nifty settled at 16352.45 with 86 points or 0.53 percent on a weekly basis. While Banknifty ended at 35613.30 levels with strong bounce with an upside of 3.90 percent in a week.

sharemarket weekly updates bhaskarlive

INDIA VIX has cooled off during the week with 7.01 percent and has settled at 21.48 levels. Investors and traders may watch out key events such as the RBI meet in the second week as well as the US Fed meeting likely to be on 14-15 June for monthly expiry. As corporate results are likely to end soon stocks would expect less volatility in upcoming days. In Nifty stocks, HDFCLIFE gained 9.61 percent while DIVISLAB shed 18.41 percent in a week. Sectorally Nifty Finance saw the highest gains of 4.32 percent followed by the Nifty Auto with 3.26 percent. On the flip side Nifty Pharma, Energy, Realty and PSE lose more than 3 percent each on a weekly basis. However Midcap gained 0.77 percent while Smal lcap dropped by 3.42 percent.

Technically, Nifty has formed a bullish candle on the weekly chart with a long tail suggesting strong support around 15900 levels, while on the upside 16800 may act as strong resistance. Index has taken support from the previous horizontal line & closed above 21-days Simple Moving Averages that indicates further pullback rally in the near term.

Indicators such as RSI remained in the neutral zone while MACD suggest some positive cross over observed in daily time frame suggest some sign of reversal. Coming to the OI Data, on the call side the highest OI witnessed was 16500 followed by 16800 strike prices while on the put side, the highest OI was at 16000 strike price. Overall, Nifty is having support at 16000 mark while on the upside 16500 followed by 16750 may act as an immediate resistance. While Bank nifty has support around 34300 while resistance is placed at 36800 on weekly chart.

Om Mehera
Research Associates
Choices Broking

Souce: Choice India

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