Indian mkts responded on the same line as the global markets. But remained very volatile throught the day. Sensex opened with a gap nearly 300 points in red and within few minutes the mkts bounced back. At time the sensex rallied and was only 100 points -ve. but the selling pressure remained. Traders are looking ahead for the election results. There is clearly no mood of buying in the markets. Mid cap shares did pretty good, but the frontline stocks lost their shine. Sensex closed 146 points lower at 11873 and Nifty closed nearly 1% lower at 3593. Nifty made a low of 3537. In the last 3 days Nifty made a low of 3534. Nifty has been consolidating in a very small range. Traders are waiting for the election results. In my last blog, I have mentioned that the mkts will be see some profit booking, and the reader were adviced not to take any position in the mkt.
We can clearly see that the Nifry have faced stiff resistance at 4450 levels and this time also it wont be so easy to cross the same.
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