Today the
Index opened deep down from the previous close.
However in the later half of the session the index recovered smartly with
increasing volume regaining part of the losses. We saw a wide spread bar closing
on the upper side. The volume was also above average. Today’s Bar indicates
there was indeed buying at lower levels.
The overall market did not reflect similar sentiment and unlike
yesterday the market behaved contrary to the Index. The sell volume was 83% compared to the Buy
volume of 17%. The losses overwhelmed the gains. So did the declines compared
to the advances. The market could see some more downside though limited with
sideways moves to follow.
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