Last week Nifty broke the psychological 5000 mark and so did the Sensex by breaching 17000. Thanks to China for raising banks reserve requirement ratios by 50 basis points thereby reducing the liquidity in the market and potentially causing slowdown in their economy. On another front, US President Barack Obama proposed new restrictions on banks, which would prevent banks or financial institutions that own banks from investing in, owning or sponsoring a hedge fund or private equity fund.
BSE Sensex fell 694.62 points or 3.96% to 16859.68 in the week ended Friday, 22 January 2010. S&P CNX Nifty tumbled 216.20 points or 4.11% to 5,036. Nifty Support 4890 and Resistance 5140.
Coming week will be highly volatile due to Derivatives expiry on 28th Jan, negative news overflowing from the global market, short trading week and pre-budget rally kicking in any time. In the midst of volatility, we suggest small investors to do cherry picking for the pre-Budget Rally. Start deploying your cash in small percentages in each dip for short term delivery.
BSE Sensex fell 694.62 points or 3.96% to 16859.68 in the week ended Friday, 22 January 2010. S&P CNX Nifty tumbled 216.20 points or 4.11% to 5,036. Nifty Support 4890 and Resistance 5140.
Coming week will be highly volatile due to Derivatives expiry on 28th Jan, negative news overflowing from the global market, short trading week and pre-budget rally kicking in any time. In the midst of volatility, we suggest small investors to do cherry picking for the pre-Budget Rally. Start deploying your cash in small percentages in each dip for short term delivery.
0 comments:
Post a Comment