As expected the market has been moving
sideways. Last week the selling pressure
was more than the buying pressure. However the volume was average to low. The
bad news which hit towards the end of the week failed to push the market down too
much and the volume remained low. In the overall market also selling dominated
in the last three sessions. With more
bad news coming selling pressure is likely to remain in the coming week as
well. But the downside is likely to be limited and the index is more likely to
continue sideways move.
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