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MUMBAI, April 08 (www.GoldTradingCalls.com) Indian Benchmark indices fell to two-month lows on investor concerns that another financial crisis stemming from Greece’s souring finances could be in the offing.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) fell 4.5 percent or 789.6 points to end at 16,769.11 points Friday.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) too moved down and closed the week at 5,018.05 points, down 259.95 points or 4.92 percent.
The selling was rampant and spread across sectors. The BSE midcap index lost 4.88 percent, while the BSE small cap index shed 5.41 percent.
Across bourses, fear was palpable about the possible impact of the Greek crisis, triggered by potential debt default even after a proposed bailout by fellow Euro zone countries, that could engulf other countries and hit financial markets.
Our Inhouse Quant Forecast in BLUELINE Superimposed on price chart clearly shows that Nifty has topped out and is currently commenced a multi-week-month fall. The bearish trend to remain for 2010.
We were one of the early birds to warn on the impending Nifty trading top as early as April 17. Do check the below link for previous calls.
Click the url to find out the latest Nifty Trading calls from the Editors Desk
www.GoldTradingCalls.com
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