Characterised by dynamism

Font Size

Print

Feedback

Email

Discuss

Related Articles

Benga project in Mozambique to yield premium coal ...Indian projects win 'Green Oscars'

: The improvement during the Diwali week was short-lived as the indices did not go into an intermediate uptrend even as a few stocks went into a fresh intermediate uptrend. This means that the intermediate downtrend, which has started on August 12 is still intact as the indices are poised to test their recent minor bottoms if the intermediate rally does not start soon. The target for the Sensex to move into an intermediate uptrend is at 10,571 and for the Nifty it is at 3,161.25. The equivalent level for the CNX Mid Cap index to get back into an intermediate uptrend is at 3,868. The earlier intermediate top for the Sensex and the Nifty is far away and is at 15,580 and 4,650. As these levels are quite far away, the next intermediate uptrend will be a rally within a major downtrend and only traders must participate in the rally. Investors must stay sideways for some more time. The equivalent level for the CNX Mid Cap index to get back into a major uptrend.

In the last week, all the indices ended in red after two weeks gains seen after Diwali. The Sensex lost 5.81% and the Nifty ended 5.47% lower. Among the sectors, the BSE Realty sector was the largest loser, ending 14.14% lower and was followed by the BSE Capital Goods sector, which lost 8.96%. Among the sectors, which registered a lower loss, were the BSE Health Care index, which lost 1.08% and was followed by the BSE FMCG sector, which ended 3.15% lower.