The market again ended down for the day and the week - for the week down 2.5% and for the day the sensex closed @ 19130 (down 160) and Nifty @ 5750 (down 35) - but the lowest for the day was 19060 and 5720.
The market went below the 20 dma /200 dma - but bounced back marginally on the positive side.
So there is a possibility of a bounce from here .
But however- the Market seems to have decisively broken out on the lower side - if this is confirmed by Monday and Tuesday action - then we are in the midst of a bear market.
On May 3rd (Tuesday) RBI in its meeting may announce further increase in the CRR rate by 25 basis points, as the inflation still remains on the higher side @ around 10%.
The market went below the 20 dma /200 dma - but bounced back marginally on the positive side.
So there is a possibility of a bounce from here .
But however- the Market seems to have decisively broken out on the lower side - if this is confirmed by Monday and Tuesday action - then we are in the midst of a bear market.
On May 3rd (Tuesday) RBI in its meeting may announce further increase in the CRR rate by 25 basis points, as the inflation still remains on the higher side @ around 10%.
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