Today the market opened bit strong and firm and traded well.The market nifty and banknifty floated till after noon.The nifty broke yesterday high 5968 and lot of buying were seen.The banknifty touched a day high of 12328 and the day low made was 11740 level,From day low to day high was about 530 points.During closing the recovery made to close near 12850 level.
The Lic Housing Finance Ltd was down nearly -20%..It traded near 1320 and free fall happened due to some scandal in its housing loans,soon after the news recived it acted fast and fell from 1300 to 1050 level in no time.The Bihar political results is in full favour of the opposition BJP alliances the congress won only 6 seats.The bihar oppsition is in full charge.This is yet again one more chellange to the present rulling Govt, as its facing problems one after another like common wealth scam,adarsh housing society scam,2G-spectrum....etc. This made a mess in market!! The market now in the corrective mode.Today many bad news made together created a panic situation among traders/market players and they start selling all finace sect stocks..The Sbi also fell down about 100 points this imapact seen in Banknifty and about300 points it fell down from 12200 level to11780 level a sharp fall occured.
Last 3 days the banknifty shown good recovery and today too it traded well above 12280 level but during the end the moving avg fell down sharply..this put the banknifty in -ive side ,the more weakness will be there if tomorrow it trade below 11760 level.
The nifty may take support in 5750 level and bounce up to 5800/900 levels.The 5750 breakdown may lead deeper correction uptp 5560 level.Tomorrow F&O closing so the roll over of position tend to make market swings up and down more then usual.
I Have recived, This below one in my chat messages...
Would like to share the same with all my readers, as it awaken all of us!!!
'Second- Adrash Scam'
'Third -2G Scam'
Now -LIC Housing Loan Scam...
We,Calculate...these Scams...Costs--Indian Public....More Than....3 Lacs Crore....!!!!!This is Ours Money..Apart for this the Indian Money Deposit in Swiss Banks
Top $700 Billion Mark
That's Means....If these Money , come back in India....
We Don't Need to Pay Any Taxes for the Next 20 Years
We'll be Free from STT,VAT,Income Tax,Direct Tax,Indirect Tax ,
Education Cess , Service Tax.and All Other Taxes..!!!