Mkt Wrap: Can lack of positive cues see Nifty snap 200 DMA?

'Sometimes, a long-term investment is actually a short-term investment that failed.' If you are planning on going long, keep this in mind as you trade for the next few days as there is a lot of global and domestic macro news to watch out for.

April 10, 2012 / 08:32 IST

After the long weekend, investors came back to a 150 points gap down on the first day of the week, tracking weak global cues. Witnessing profit booking, key benchmark indices were left trading in the red through most of the day.

The Sensex tumbled 263.88 points or 1.51%, to close at 17,222.14 due to banks, metals and capital goods stocks falling while the Nifty fell 88.50 points or 1.66% to close at 5,234.40.

Sudarshan Sukhani of s2analytics.com says it is important to note that we had a gap down and that gap is more or less being maintained. There is only so much that a market can decline or rally in a day, according to him.

first published: Apr 9, 2012 04:33 pm

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