Yogi plans seaplane service between Varanasi and Gorakhpur


Lucknow, Sep 8 | The Yogi Adityanath government plans to start the first seaplane service between Varanasi and Gorakhpur.

The state government has written a letter in this regard to the Ministry of Civil Aviation.

The UP government asked the centre to conduct a feasibility study and take further action in the matter.

UP civil aviation minister Nand Gopal Gupta Nandi met union civil aviation minister Jyotiraditya Scindia in New Delhi on Tuesday to discuss the start of the seaplane service on the Varanasi-Gorakhpur air route. They also discussed other issues related to aviation.

According to official sources, Nand Gopal Gupta Nandi asked Jyotiraditya Scindia to take immediate action on the seaplane service proposal sent by the UP government to the centre.

The seaplanes can operate from both land and water. Flying and landing can also be done from a 300-metre-long reservoir. The central government has planned 100 seaplane services in the country, in which about 111 rivers can be used as airstrips.

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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