Thursday, March 06, 2025 | 06:47 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Intermediate Downtrend On The Cards

Image

BUSINESS STANDARD

The market continued to weaken amidst war tensions and the uncertainties of the proposed switch to a T+3 system. It seems as though there has been a reversal in the intermediate trend and we can now expect several weeks of prices drifting down or perhaps, range-trading. Trading volatility is also likely to rise since volumes appear thinner.

The Sensex ended at 3235.49 points, for a loss of 3.53 per cent. The Nifty was down 3.4 per cent at 1050.85 points. The Defty lost 3.3 per cent as institutional support propped up the rupee. The BSE-500 lost 4.38 per cent showing a negative divergence. The weakness of the overall market was confirmed by lower volumes and poor Advance-Decline ratios.

 

Assuming that the intermediate trend peaked at 3500 on December 6, we are in the third week of a new downtrend or sideways movement. The break of support at 3270 makes it very likely that the trend has reversed but this can

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 24 2001 | 12:00 AM IST

Explore News