Amazing pull back! Previous week it was an exact opposite reaction of the week ending 10th July 17, 2009, where Spot Nifty gained nearly 9% on a weekly closing basis. Barring the first day of the week (i.e. on Monday) rest other days of the week were up trending where huge short covering was witnessed. Finally Spot Nifty ended the week at 4374.95 up by 371.05 points or 9.27%. BSE Sensex closed at 14744.92 with a net gain of 1240.70 points or 9.19%, BSE Midcap index closed at 5680.90 up by 446.40 points or 8.53%, BSE Small cap indices closed at 5105.59 with a net gain of 387 points or 8.20%. The volume was lower than the previous week and the breadth of the market was mostly positive. Technically speaking in the Spot Nifty weekly candle stick chart a big bullish candlestick has emerged which depicts bullishness. After correcting nearly 10% in the week ending 10th July, 2009 previous week there had been equally strong pull back of nearly 9% . . .
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