Markets extended their losses for
the second consecutive week. NiftyFuture lost 114 points, from 6036 to 5922 this week. On
the sectoral front, Consumer Durables, PSU, Metal, Oil & Gas and Power
indices lost 4-5%. On the gaining side, IT and TECk sectors surged between
1-2%. The correction is indicating first signs of weakness ahead of the Budget
2013. Investors are waiting for more reform push from the government in the
upcoming Budget session.
Investor should watch the economic data on IIP for the month
of December & CPI inflation on Feb 12 and WPI Inflation on Feb 14, 2013.
Globally, Chinese bourses are closed the whole of next week, and the Hong Kong market closed from Monday through Wednesday for Lunar New Year holidays.
Globally, Chinese bourses are closed the whole of next week, and the Hong Kong market closed from Monday through Wednesday for Lunar New Year holidays.
Technically Niftyfuture 5875. May be turning points 5840. Here we can see sum short covering up to 5950-6010.
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