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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 |
|
Mar 12 16128 Mar 17 14809 |
|
1% recovery |
|
Mar 26 16086 and continues |
|
9% correction |
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- May 12, 13:28
- Last Price
- Change
- Volume
- BSE
- 16715.79
-21.28 -0.13%- N.A.
- NSE
- 4963.70
-18.90 -0.38%- N.A.
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