It has been good day for the traders. Even the Short term delivery based operators earned a good amount in this week. We had only 3 days of trading session in the current week. On Monday Nifty closed below at 2573 after making a low of 2555. The same was the lowest for the week. On Thursday Indian markets bounced back smartly. Nifty closed at 2617 after making high of 2646. Markets opened with a gap on Thursday in a +ve zone. Good Inflation numbers also gave a boost to Indian markets. American markets also rallied for 3 consecutive days. On Friday Indian markets saw biggest single day rally in 2009. Financial sector was up nearly 5-6%. ICICI Bank rallied around 8.50%, almost all the major banks were up near about 4-5%. Realty companies also rallied. Sensex closed at 8756 up nearly 5% after making an intraday high of 8793. Nifty made an intraday high of 2726 before closing at 2719 up around 4%. In the mid session European markets also opened strong nearly 1.5% up. Volumes were also pretty good as compared to the last few trading sessions. Volumes in Nse cash was Rs9700Crs as compared to Rs8350Crs on Thursday. On the Technical part Nifty took support near the trendline and bounced back sharply, resulting short covering in the markets.
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