Lets examine what had happened in the market in past one week.
Past one week was very drastic for Indian market.
The news which is related to 2G spectrum, rumours about Anil Ambani's group, Industrial growth etc. negatively affected our market.
Feb 07-2011 Monday was a Flat day for Indian market.
Sensex opened at 18315 and closed at 18037, 29.04 points in green .
Nifty at the same time opened at 5430.15 and closed at 5396.00, 0.25 points in green.
Feb 08-2011 Tuesday was a dreadful day. Sensex closed 261 points below and Nifty -ve 83.45 points.
The major shares like L&T, Axis bank, SBI etc. all closed in red.
The same thing happened in Wednesday also. Large selling pressure occurred from the investors and Sensex closed 182.93 points in red and Nifty closed 59.00 points in red.
Rumours about Anil Ambani's group seriously affected the market. Reliance Infra went down about 18.79%, Reliance communication down about 14.32%, Reliance power 8.93% etc. The group gave complaint to SEBI.
Thursday and Friday was much better for the market.
The investors buy shares in the lower range and that helped the market to retain the crucial 5200 support level.
Friday all of us expected a negative trend because of the negative news about our Industrial growth and Friday market. But due to the positive trend in Asian market and world market, the market closed in green.
Sensex closed 265.57 points up and Nifty closed 84.20 points up.
If Nifty can maintain the crucial 5200 support level in the next week, then we can expect a positive trend.
If Nifty break that 5200 level, then it may come up to 4800 levels.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
Posts
