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Week Ahead in Mkts: Expect another dip

MACRO TECHNICALS

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Devangshu Datta New Delhi
Week Ahead in Mkts: Expect another dip
Devangshu Datta / New Delhi December 18, 2006
The market is running into stiff resistance at 3900-plus levels, and will have to climb above 3962 to signal a continuing uptrend.
 
A savage correction on Monday and Tuesday was followed by a V-shaped three-session recovery that nevertheless ended in net losses. The Sensex ended down 1.34 per cent at 13614 after dipping to a low of 12801.
 
The Nifty closed down by 1.85 per cent after dropping to a low of 3657. The Defty was down 1.88 per cent as the rupee stayed at near-parity against the dollar.
 
Breadth signals remained poor

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First Published: Dec 18 2006 | 1:25 AM IST

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