It was a disastrous close to the trading week.
High selling pressure from the investors dragged the Nifty below the very Important 5400 level.
The 30-share BSE Sensex plunged 441.16 points or 2.39%, to close at 18,008.15.
50-share NSE Nifty tanked 131 points or 2.37%, to settle at 5,395.75.
Yesterday I predicted that there will be a negative trend I did not expect such a fall.
Investment Advisor, Gul Tekchandani says that even if the downside is restricted at 5300, after budget they will get stable and once again there might be little bit of up tick from there on.
Mitesh Tacker, Technical Analyst is optimistic that the markets are likely to bounce back to 5620-5650, as long as they remain above 5400.
However, Amit Dalal, Tata investment Corp thinks that the sharp fall in the markets are due to infrastructure and credit squeeze in the system because of lack of government’s spending.
Top Losers include Mahindra and Mahindra, Kotak mahindra, Sun pharma, ITC, L&T etc.
The stock picks for next week will be published before Monday after analysing the market trends.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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