Thiruvananthapuram, Nov 24 | In a rare instance of a serving State Police Chief getting an extension, Kerala Chief Minister Pinarayi Vijayan while chairing the weekly cabinet meeting here on Wednesday, announced that the serving State Police chief Anil Kant’s tenure which was to end on January 31 next year has been given an extension till June 30, 2023.
Through this directive, Kant will get a full two years tenure as the state police chief and in the process will scuttle the chance of a few other juniors to get to the top post and the biggest loser is going to be B. Sandhya, who could have had the chance of becoming Kerala’s first lady Police Chief.
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Such a long extension to a serving state police chief has not occurred in the recent past in the state.
Kant ever since taking over as the new state police chief on July 1 this year has, by and large, remained away from the media glare and so far has not courted any controversy through his actions.
Incidentally in a span of a day, this is the second surprise that Vijayan has done, when the other day in a first of its kind Vice Chancellor of Kannur University Gopinath Raveendran was given a four-year extension, even when he was at the center of ongoing controversy, where according to many the private secretary of Vijayan — K.K. Ragesh’s wife Priya Varghese was appointed as an Associate Professor at the University in the Malayalam department, allegedly in violation of UGC rules and regulations.
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