Friday, 29 January 2016

{LONGTERMINVESTORS} Sensex, Nifty charts: pullback to previous support levels; bears still dominate

Stock markets worldwide reacted bullishly to economic stimulus announcements by ECB and China and a cut in interest rate (to -0.1%) by Japan. 

All is not well on the economic front, as India's GDP growth rates for FY14 was revised down to 6.6% from 6.9% and for FY15 to 7.2% from 7.3%.

As per provisional figures, FIIs were net sellers of equity worth Rs 14350 Crores in Jan '16. The figure exceeded their combined sales in Nov '15 and Dec '15. DIIs were net buyers of equity worth Rs 12900 Crores.

A combination of short covering and value buying at lower levels ensured that both Sensex and Nifty made weekly gains for the first time in Jan '16.

Read more at:

http://investmentsfordummieslikeme.blogspot.in/2016/01/bse-sensex-and-nse-nifty-50-index-chart_30.html

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