| Four negative sessions were followed by a partial recovery on Friday but week-on-week, the market lost considerable ground. The Nifty ended down 5.05 per cent at 5608 points after hitting an intra-day low of 5394 on Thursday. |
| The Sensex was down 4.29 per cent. The Defty lost 5.75 per cent as the rupee softened somewhat. The FIIs were massive sellers while the Indian mutual funds were almost neutral. Breadth was negative on week-on-week basis but it was positive on Friday. |
| The broad BSE 500 was down 4.06 per cent while the CNX Midcap lost 4.07 per cent. The Nifty Junior was the best performing index with a loss of only 1.55 per cent. Volumes were low through the week and lowest on Friday during the recovery. |
| Outlook: The market is most likely to swing through the range of Nifty 5350-5750 through settlement week. Monday is quite likely to be uptrending but there is powerful resistance starting at 5675. Intra-day volatility is likely to be in the 250-300 Nifty range. |
| Rationale: Friday |
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