Xavi confirmed as new FC Barcelona coach until 2024

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Barcelona, Nov 6 | FC Barcelona confirmed former player Xavi Hernandez as the long-term replacement to Ronald Koeman as first-team coach in the early hours of Saturday morning.

The 41-year-old, considered to be one of the architects of Barcelona’s trademark tiki-taka passing game, returns to the Camp Nou after Barcelona agreed on terms with Qatari club Al-Saad, where he had been coaching since 2019.

Xavi has agreed to a contract until the end of June 2024 and will make his debut in the Barca dugout on November 20 in the Barcelonian Derby against local rivals Espanyol, just three days before Barca play Benfica in a Champions League game they need to win in order to qualify for the European competition’s knockout stages.

The confirmation came at around 2 am Spanish time after a confusing day in which Al-Saad had previously published a tweet informing that they had reached an agreement for Barcelona to pay Xavi’s release clause, which was thought to be set at five million euros.

Barcelona sources subsequently denied that, with later reports informing that the club and coach had paid 2.5 million euros each, although full details of the negotiation will not be made public until Xavi is officially presented on Monday, reports Xinhua.

Xavi made his league debut as a Barcelona player in October 1998 when Louis van Gaal was the first-team coach and went on to make 767 first-team appearances for the club, scoring 85 goals and forming a key part of the most successful period in the club’s history.

He left Barcelona after 17 seasons in 2015 to end his playing career at Al-Saad in Qatar, taking over as the club’s first-team coach in 2019 and leading them to the 2020-21 Qatari Stars League title, as well as the Qatari Cup in 2020 and 2021.

His task now will be to rebuild a side that has been much-weakened after losing players such as Lionel Messi and Antoine Griezmann and to oversee a generational change by bringing in new players to help replace veterans such as Gerard Pique, Sergio Busquets, and Jordi Alba.

Xavi had never made any secret of his desire to coach Barcelona but confirmed that he had rejected previous offers to return to the Camp Nou because he didn’t believe the time was right.

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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