There is strong support at Nifty 5065 and it is quite likely that the market will oscillate between 5120-5220. |
A burst of sustained buying on Wednesday propelled the market to new highs. Thursday and Friday saw more muted trading and some profit-taking. |
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The Nifty moved above 5200 to 5260 levels before easing back to 5185 points for a week-on-week gain of 3.28 percent. The Sensex hit highs of 17979 before closing at 17773 for a gain of 2.79 per cent. The Defty was up 3.85 per cent as the rupee continued to gain muscle. |
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Domestic and foreign investors showed contrasting attitudes. The FIIs remained very positive while the Indian funds were consistent sellers through the week. Overall advance-declines ratios were positive and volumes were good. |
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The BSE 500 was up 2.31 per cent. The Nifty Junior crossed 10,000 before actually seeing a weekly decline of 1.47 per cent
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