TN to sponsor students admitted under 7.5% govt school quota

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Chennai, Sep 20 | Tamil Nadu Chief Minister M.K. Stalin on Monday announced that the state government would take care of the expenses of all students who have been admitted to professional and other courses under the 7.5 per cent government school students quota.

In his address at a function organised at the Anna University campus to provide allotment letters to a few students who have been admitted to various programmes under the quota, he said that the counselling, tuition, and hostel fees would be borne by the state government and called upon the students to make use of the opportunity.

The government decision is expected to benefit 10,000 students who will be admitted to engineering programmes and to 350 other students who will be admitted to other professional programmes like fisheries, law, and agriculture in the current academic year.

Stalin said that the current government’s period will be considered as the golden era of technical education in the state just as K. Kamaraj’s rule was hailed as the golden era of school education in Tamil Nadu. He said that Kalaignar Karunanidhi’s period was praised for promoting collegiate education.

“It would give me the greatest of happiness if in a few years, a person meets me in a remote village and says: ‘It is because of the Government Order you issued that I got placed in a big company or that I have established a company’,” he said.

School Education Minister Anbil Mahesh Poyyamozhi, Higher Education Minister K. Ponmudi, and Health Minister Ma Subramanian were also present in the programme.

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.

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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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