Leisure, Lifestyle & Wellness
Poonia qualifies for discus throw final round at Olympics

Commonwealth Games gold medallist Poonia has became only the sixth Indian to make it to the final round of track and field events in Olympics after Milkha Singh, PT Usha, S Sriram, Gurbachan Singh Randhawa and Anju Bobby George

 
London: India's Krishna Poonia on Friday qualified for the women's discus throw final round in London Olympics with an impressive effort in the qualification round on the first day of track and field events, reports PTI.
 
Poonia, who is hoping to win a medal, began with a foul throw but regained her composure to hurl the one-kg discus to 63.54m in the Group A competition at the showpiece Olympic Stadium.
 
Those who touched the qualification mark of 63.00m or the best 12 make it to the final round.
 
Poonia finished fifth in Group A behind 2008 Beijing Olympics silver medallist Yarelys Barrios (65.94m) of Cuba, Darya Pishchalnikova (65.02m) of Russia, reigning world champion Li Yanfeng (64.48m) of China and former world champion Dani Samuels (63.97m) of Australia.
 
Poonia has a personal as well as season's best of 64.76m, also a national record which she set in May at Hawaii in United States.
 
Commonwealth Games gold medallist Poonia thus became only the sixth Indian to make it to the final round of track and field events in Olympics after Milkha Singh, PT Usha, S Sriram, Gurbachan Singh Randhawa and Anju Bobby George.
 
The final round will be held on Saturday.
 

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Stunned boxing team to decide action on Vikas ouster after meeting

In a stunning reversal of fortunes, Vikas (69kg) was ousted after AIBA overturned the result of his pre-quarterfinal bout that he had won, following a review

 

London: Stunned by Vikas Krishan's ouster from the Olympic Games following a reversal of decision by the International Boxing Association (AIBA), Indian Chef-de-Mission PK Muralidharan Raja on Saturday said the country's contingent will not take AIBA's decision lying down even though it has 'limited options' in the matter, reports PTI.

In a stunning reversal of fortunes, Vikas (69kg) was ousted after AIBA overturned the result of his pre-quarterfinal bout that he had won, following a review.

The 20-year-old had won 13-11 over Errol Spence in a thrilling contest Friday night but following an appeal by his rival's team management, the AIBA awarded the bout 15-13 to the American citing the fouls committed by the Indian which were not noticed by the referee.

Raja, also the Indian Boxing Federation's Secretary General, said the team will not accept the decision.

"I will be meeting the Indian boxing team at 10:00 am (2:30pm IST) and then we will decide the future course of action," Raja told PTI.

"The decision has been overturned but it's not as if we cannot do anything about it," he insisted.

But Raja admitted that there were not too many options in front of the team after the world body's review and reversal of the original decision.

"In such cases, the jury decision is final. Because they replay the bout and go through it very closely before deciding whether to stick to the original decision or overturn it. Not many options are there but let's see. We will still try to find a way forward," he said. .

Earlier, the AIBA cited fouls committed by Vikas as the reason for overturning his 13-11 win.

"There were a total of nine (9) holding fouls committed by the Indian boxer in the third round alone. However the Referee only gave one caution," the AIBA said in a statement after a review by its Competition Jury.

"In the second round, at the time 02:38, the boxer from India spitted out his gumshield intentionally. However the Referee didn't give any warning," it added.

Based on these "findings", the jury members "unanimously" decided to award Spence four points, thereby making him the winner.

"Based on the AIBA Technical & Competition Rules 12.1.9, the Referee should have given at least two (2) warnings to the Indian boxer. Although the boxer from India intentionally spitted out his gumshield, the Referee's view was blocked by the boxer from the USA and was not able to see the action," the international body said.

"...at least four points should have been awarded to the boxer from the USA. Therefore the final score should be 13:15 in favour of the USA. The protest is accepted and the winner of Bout 142 is Errol Spence (USA)," the AIBA statement added

 

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A significant top is expected where one should at least exit longs

It would be prudent to exit long positions in any further rise and those with a penchant for high risk can initiate shorts close to the resistance levels with appropriate stop loss in place


S&P Nifty close: 5,215.70

Market Trend

Short Term: Sideways                       Medium Term: Down                        Long Term: Down

As expected the bulls fought back in style after the drubbing of the past three weeks. The market opened with an upside gap on the first day of the week and since then has moved steadily higher barring a small hiccup at the open on the last day of the week. The Nifty finally closed 116 points (+2.27%) in the green. The volumes were, however, significantly lower than last week implying doubts as to the sustainability of this rise. 
 
All the sectoral indices ended in the green. The sectoral indices which outperformed were CNX Realty (+4.66%), CNX Pharma (+4.15%), CNX Infra (+3.39%) and CNX Energy (+3.01%) while the underperformers were CNX Metal (+0.23%), CNX Auto (+1.17%) and CNX Consumption (+1.60%). The histogram MACD remained above the median line. One has to watch this closely because when it drops below the median line the bulls will be under tremendous pressure.
 
Here are some key levels to watch out for: 
 As long as the S&P Nifty stays above 5,197 points (pivot) the bulls can breathe a bit easily though it is overbought in the short-term.
 Support levels in declines are pegged at 5,148 and 5,080 points. 
 Resistance levels on the upside are pegged at 5,265 and 5,314 points.

Some Observations
1. The Nifty recovered as expected and has closed near the high of last week from where we were expecting it to reverse. 
 
2. 5,165 was the 38.2% Fibonacci retracement level of the recent rise from 5,032-5,246 which was hit during the intraday correction on Friday.
 
3. Immediate resistance is expected from the trendline (in green) pegged around 5,296 points.
 
4. If it clears the above hurdle and sustains above it then it could try to test the trendline resistance (in black) pegged around 5,380 points, next week.

Strategy
We saw high volatility during the week as was envisaged last week and now have to see whether it reverses direction next week. From a positional trading perspective one should exit longs in any further rise from here on especially close to the resistance levels (trendline and R2 level) mentioned above. We have completed the 89th week (Fibonacci number excl. the top) from the top of 6,335 points (12th Nov 2010). The current rise is also slower (in time on the weekly charts) as compared to the previous rise from 4,531-5,629 points. Looking at these factors there seems to be a very high probability of the market making a top next week which could last for a few weeks at the least. Therefore it would be prudent to exit long positions in any further rise and those with a penchant for high risk can initiate shorts close to the resistance levels mentioned above with appropriate stop loss in place.
 
(Vidur Pendharkar works as a consultant technical analyst & chief strategist at www.trend4casting.com.)
 

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