Thursday, February 26, 2009

Nifty has taken good support at the trendline, but stll the fear is there in the markets, as world markets are still showing sings of weakness. Emerging markets will bounce back prior to the developed markets, but that will not be so soon. As the fincancial position of the world markets are still not getting better. Crude prices have short up to $40 per barrel after taking support near 30-35 levels, as mentioned earliier in my note. Volumes are very less in the markets.Bse volumes in the month of Dec 08 was nearly arouond Rs 4000 Cr but the volumes in the month of Feb have drastically fallen down to nearly Rs 2500-2800 Cr levels. Till the time good volumes do not happen in the market, the revial is not in sight.

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