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MTECHTIPS:-SENSEX
The SENSEX gave a weak opening in early trade on Friday, and the index sustained at lower levels with little activity in the index on either direction. But a positive opening in the European markets gave a strong stimulus to our markets, and a sharp recovery in the final hours, led to a positive close for the session.Sensex rebounded quite smartly in late trade on Friday that helped it to close higher in all sessions of the week. The market saw highest ever weekly absolute gains in 2012, with the Sensex rising 5%.Today Sensex has to hold 16650 above which 16800-16900 could be possible. However if it falls below 16485 then some profit booking would take the markets towards 16200-16100. Market is closely watching big events that will happen this week: Industrial output data for April on June 12, inflation for May on June 14 while globally the Greece election on June 17, RBI meet on June 18 and Fed meet on June19.
The SENSEX gave a weak opening in early trade on Friday, and the index sustained at lower levels with little activity in the index on either direction. But a positive opening in the European markets gave a strong stimulus to our markets, and a sharp recovery in the final hours, led to a positive close for the session.Sensex rebounded quite smartly in late trade on Friday that helped it to close higher in all sessions of the week. The market saw highest ever weekly absolute gains in 2012, with the Sensex rising 5%.Today Sensex has to hold 16650 above which 16800-16900 could be possible. However if it falls below 16485 then some profit booking would take the markets towards 16200-16100. Market is closely watching big events that will happen this week: Industrial output data for April on June 12, inflation for May on June 14 while globally the Greece election on June 17, RBI meet on June 18 and Fed meet on June19.
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