London, Jan 22 | A new form of Omicron named BA.2 has been designated a “variant under investigation”, with 426 cases of the Covid-19 strain’s sub-lineage confirmed in Britain, the UK Health Security Agency (UKHSA) said.
“Overall, the original Omicron lineage, BA.1, is dominant in the UK and the proportion of BA.2 cases is currently low,” with the earliest dated December 6, 2021, Xinhua news agency quoted the UKHSA as saying in a statement on Friday.
In total, 40 countries have uploaded 8,040 BA.2 sequences to the Global Initiative on Sharing All Influenza Data (GISAID) since November 17, 2021 and at this point, it is not possible to determine where the sub-lineage may have originated, it added.
The first sequences were submitted from the Philippines, and most samples have been uploaded from Denmark (6,411), while other countries that have uploaded more than 100 samples are India (530), Sweden (181), and Singapore (127), according to the UKHSA.
Meera Chand, incident director at the agency, said new mutations are “expected” as the pandemic continues.
“So far, there is insufficient evidence to determine whether BA.2 causes more severe illness than Omicron BA.1, but data is limited and UKHSA continues to investigate.”
The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.
While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.
Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.
Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.
Source: Choice India