Tuesday, 20 December 2011

Market Commentaries
Mumbai S.E. falls for the fifth day in a row
BSE SENSEX developed negatively Tuesday, and fell 1.33 percent to a close of 15175 points. The index has now closed down for the fifth day in a row.
TATA STEEL closed at 344 rupee after posting a loss of 5.27 percent. We must go back to Jan 27. 2010 to find an equally steep drop. That time the stock lost 8.48 percent. The stock has now fallen for the fifth day in a row. The stock is with that down 35.11 percent after the sell signal from a rectangle formation five months ago. SUPREME PETR declined slightly 1.82 percent and ended the day at 43.15 rupee. The stock has now fallen for the 11. day in a row and this past month the stock has lost as much as 21.12 percent. The volume was also extremely high. At session end it was bought and sold shares for about 19 million rupee in the stock, which equals 63 times mean daily turnover. The stock is trend wise negative in the medium term.
  
The most active shares were STATE BANK, with a turnover of 1556 million and RELIANCE, with a turnover of 943 million. LARSEN & TOU and TATA STEEL were also heavily traded, with a turnover of 927 and 630 million respectively. Total value of the trading volume for shares and primary capital certificates Tuesday was approximately 18.8 billion.
National S.E. falls for the fifth day in a row
S&P CNX Nifty developed negatively Tuesday, and fell 1.49 percent to a close of 4544 points. The index has now fallen for the fifth day in a row and this past week the index has lost as much as 5.34 percent.

 Weak negative candidate (The medium long term)
S&P CNX Nifty has broken the falling trend down. This signals an even stronger falling rate, but the negative development may result in corrections up in the short term. The index has resistance at points 4750. The index is assessed as technically slightly negative for the medium long term.

Strong gains on NASDAQ
The market rallied Tuesday, and Nasdaq Combined Composite Index closed at 2604 points after an increase of 3.19 percent.

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