Tonga reports more Covid-19 cases, Samoa extends lockdown for 2 weeks

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Suva, May 4 | Tonga reported 174 new Covid-19 cases over the past few days, while Samoa has decided to extend its level two lockdown for another two weeks.

According to Matangi Tonga Online news website on Tuesday evening, Tonga’s Ministry of Health confirmed that the Pacific island nation recorded 174 Covid-19 cases from Sunday to Monday, bringing the total number of active Covid-19 cases to 1,217, the majority of which are in Tonga’s main island of Tongatapu.

The Ministry also said 9,255 people in Tonga have recovered from Covid-19, and the number of Covid-19 related deaths remains at 11, Xinhua news agency reported.

At present, 91 per cent of Tonga’s target population above the age of 12 years have had the second doses of Covid-19 vaccine, at least 98 per cent have received the first doses and 56 per cent have got their booster shots.

Tonga is still under the orange lockdown level restriction and the curfew is from 10 p.m. to 5 a.m. local time.

Meanwhile, in Samoa the cabinet has decided to extend the level two lockdown for another two weeks effective on Tuesday midnight until May 17.

Samoan Prime Minister Fiame Naomi Mata’afa has announced the resumption of international flights in May, though restricted to Samoans travelling in for various purposes and for all those contracted to work in the island nation.

The Prime Minister also said Samoa will re-open its borders to fully vaccinated international travellers in August or September this year.

Critical to the opening of borders are current vaccination rates, amending quarantine requirements and opening of borders by Fiji, Australia and New Zealand for Samoa, she added.

In Samoa, 92.6 per cent of people aged 18 years and above have received the second doses of Covid-19 vaccine, while a total of 70,439 have had their booster shots.

Samoa now has 19 Covid-19 related deaths.

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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