Mkts could not break out despite global support

Market started well, then plateaued for a bit and took off in the afternoon leading to hopes for a massive breakout today, but the market couldn’t finish it off. So, despite global support the market did not had a conducive breakout.
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Dec 10, 2008, 11.06 AM | Source: CNBC-TV18

Mkts could not break out despite global support

Market started well, then plateaued for a bit and took off in the afternoon leading to hopes for a massive breakout today, but the market couldn’t finish it off. So, despite global support the market did not had a conducive breakout.

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Mkts could not break out despite global support

Market started well, then plateaued for a bit and took off in the afternoon leading to hopes for a massive breakout today, but the market couldn’t finish it off. So, despite global support the market did not had a conducive breakout.

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Udayan Mukherjee (more)

Consulting Editor, CNBC-TV18 |

Here is a verbatim transcript of Udayan Mukherjee’s comments on CNBC-TV18. Also watch the accompanying video.

 

Market started well, then plateaued for a bit and took off in the afternoon leading to hopes for a massive breakout today, but the market couldn’t finish it off. The closing left a lot to be desired, the breadth collapsed in the last one hour of trade. The Nifty drifted down below the 2,800 mark, so for bullish traders, it’s a disappointing end to the trade. The Sensex and Nifty put on a couple of percentage points, but it would not qualify as a breakout today particularly as compared to the global scenario where most markets in Asia were up 5-7% and Europe was up 4-6%. So, despite global support the market has not had a very conducive breakout and that’s a bit disappointing, though we have seen meaningful rallies in many of the beaten down sectors like real estate, metals banking and telecom in the frontline space.

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Mkts could not break out despite global support

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