Bazaar this Week ( 1 to 5 Jun 09 )

by khalid on 07/06/2009 · 0 comments

BSE/NSE

BSE/NSE

Previous Week: Bazaar completed their 13th straight week of gains last week ( 1/6/2009 to 5/6/2009 ) on the back of strong bazaar sentiments and positive global cues. MED ( major economic data ) released by US, CHINA, JAPAN etc, indicated a sign of recovery from recession and it helps the Bazaar to recover globaly. Here in our Bazzar, volatility remained heigher and both side movement was witnessed in the previous week.

Last week Sensex surged 478 points which is more than 3 % to close at 15103. Similarly Nifty too ended positive at 4587, 138 points up which is 3 % too.

Week Ahead : Though the Bazaar has been rallying for the last 13 weeks, traders still did not seem to be clear in their mind about the further positive movement in future and it is evident from the volatility of te Bazaar. This leads to the profit booking in every high level by the traders. Short covering is also seen on every decline. FI and DII are investing on every fall which is restrictin the sharp fall in Bazaar. In coming week India’s industrial production data for April 09 is due to come and it will give a direction to the Bazaar it seems. On global front, Euro zone industrial production data for April, Japan Q1 GDP and US advance retail sales for May are due to come and an impact of these data will be seen in Bazaar.

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