The Nifty closed 2nd consecutive week in negative territory. It’s in corrective mode as expected last week. It has achieved my short term targets of 8380 levels as expected last week. It made a low of 8273.35 levels.
The market has now fallen for five sessions in a row due to poor global cues and local worries about MAT. The fall has been top-heavy with large cap index stocks losing more ground. The last few sessions have been low volume.
The Nifty closed weekly in negative territory. It has achieved my short term targets levels near recent high of 8844.80 levels in this pull back rally. All the other indices such as midcap, small cap, Bankex etc closed weekly in negative territory.