| Week Ahead: Expect bearishness to continue |
| MACRO TECHNICALS |
| Devangshu Datta / New Delhi November 12, 2007 |
| If the 5650 support breaks, the market could slide to 5525 before hitting the next serious support. |
| The week was uniformly bearish including the ceremonial trading on Muhurat. This trend appears unlikely to alter. |
| The Sensex closed on Friday at 18907 points for a loss of 5.35 per cent. The Nifty closed at 5663 points for a loss of 4.54 per cent. The Defty was down 3.95 per cent as the rupee provided a cushion. The Junior was down comparatively less at minus 1.69 per cent. |
| Breadth was quite negative and volumes were down on every successive session. The BSE 500 was down 3.42 per cent while the NSE Midcaps were down 0.5 per cent. |
| Sector indices like the CNX IT and the Bank Nifty lost disproportionate ground. The FIIs were net sellers and, while the mutual funds were net buyers until Thursday, they didn |
