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Moneycontrol India :: News :: Despite relief mkt sees lower tops, lower bottoms :: :: MARKET OUTLOOK :: Haresh Soneji,market,liquidity crunch
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Despite relief mkt sees lower tops, lower bottoms
2008-03-27 15:43:46 Source : Markets Midday/CNBC-TV18
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By Haresh Soneji, CNBC-TV18

 

Though markets are seeing relief rallies on the back of short covering, the overall trend in the market seems to be receding. The India long-term story continies, but in the short term absolute liquidity crunch and concerns about the US market recession are coming up as serious issues.

 

This is how market is creating lower tops and lower bottoms:

 

Closing values of Sensex

 

Jan 8 – 20873

Jan 22 – 16729

 

20% correction from the top made on Jan 8

 

Feb 5 – 18663

Feb 12 – 16608

 

12% recovery from bottom of Jan 22

11% - Correction from top made on Feb 5

 

Feb 19 – 18075

Mar 4 – 16339

 

9% recovery

10% correction

 

Mar 5 – 16542

Mar 10 – 15923

 

1% recovery
4% correction

 

Mar 12 – 16128

Mar 17 – 14809

 

1% recovery
9% correction

 

Mar 26 – 16086 and continues

 

 

9% correction

 

 

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