The market closed around 1.5 % up for the day @ 18508 (up 298) and Nifty @ 5546 (up 86 ). the market closed almost near the top for the day.
For the week - the market closed 3.5% lower.
This week - silver was down 28% - Gold -5% and Crude around 10% so far.
Going forward - if the market consolidates around this level of 5500 - 5600 then we might see the market inching towards the 5680 level.
But with all the macro issues -inflation & interest rate and GDP number being revised by every economist who is given some face time on TV - market going up in the short term does look unlikely.
If the commodity prices continue to go down next week also -then there is no reason why the market can not rebound to 5650 next week.
For the week - the market closed 3.5% lower.
This week - silver was down 28% - Gold -5% and Crude around 10% so far.
Going forward - if the market consolidates around this level of 5500 - 5600 then we might see the market inching towards the 5680 level.
But with all the macro issues -inflation & interest rate and GDP number being revised by every economist who is given some face time on TV - market going up in the short term does look unlikely.
If the commodity prices continue to go down next week also -then there is no reason why the market can not rebound to 5650 next week.
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