==>> Slide show continues

Indian markets continued its downward movement. Index fell by another 2.50%. Volumes are also pretty high since the last 2-3 days. Frontline stocks again had their rough time. Markets opened up flat, were stong for sometime, but again slided deep into red. Mid cap & the small cap stocks are on the verge of collapse. Last week showed the selling pressure on the Midcap & the smallcap stocks. Profit booking continued this week also.Short covering in some of the frontline stocks had made the Indices bounce back some but could turn the markets positive. Sensex at one point was down by around 335 points, tried to recovere in the last hour, but still closed lower by 257 points. Nifty fell down by 105 points. In the early trades the Nifty bounced back from the 4315-4325 levels, which I had already given in my last blog, as that was the support level by way of Fibonacci theory. Then after noon, due to heavy selling and fresh shorts in the market, Nifty fell down to 4222 levels, but shut down at 4251 levels. Nifty had closed below 4315 levels we might see index falling to atleat 4205 levels. Below that 4165 can be seen. Sesa goa looks good for short term Delivery.
For the first time since 1977-1978, Inflation for the week came at -1.6% vs 0.13%. So does this mean that India is in recession?? No not at all.. For a country to be in recession will declare its negative real economic growth or falling GDP for atleat continuesly for 2 Quarters. It just means that there is fall in the demand of goods & services and increase in the real value of the money.