Srinagar, Oct 11 | One terrorist was killed in an encounter between the terrorists and security forces at Gundjahangir, Hajin area of Jammu and Kashmir’s Bandipora district, officials said on Monday.
“One unidentified terrorist killed. Search going on,” police said.
Earlier the gunfight took place after a joint team of the police and the security forces cordoned off the area and launched a search operation on the basis of specific information about the presence of terrorists.
As the security forces zeroed in on the spot where the terrorists were hiding they came under a heavy volume of fire that triggered the encounter.
Earlier in the day, one terrorist was killed and one policeman injured in another encounter between the terrorists and security forces at Khagund Verinag area in South Kashmir’s Anantnag district, officials said.
Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.
The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.
In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.
Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.
Source: Choice India