Wednesday, December 08, 2010

Nifty Likely to Witness Range of 6025-5930: Vijay Bhambwani

Vijay Bhambwani
Technical Analyst, Vijay Bhambwani:

The markets opened on an optimistic note and ended the session with mild losses as the anticipated follow up buying proved elusive yet again. The benchmark indices ended with 0.25 losses at close. The traded volumes were higher compared to the previous session, which is a negative indicator for a bearish session. The market breadth was negative as the BSE & NSE combined advance decline ratio was 1217 : 3127. The capitalisation of the breadth was also negative as the BSE & NSE combined figures were Rs 6166 Crs : Rs 11599 Crs. The NSE shed Rs 33588 Crs in market capitalisation.

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