When stock markets resume trading on Tuesday in the holiday shortened week, a host of important domestic and global events lined-up during this week are likely to impact them. The underlying tone of the market remains positive. Major global markets will remain shut for trading on December 25, Monday on account of Christmas holiday.
The MACD showed bearish signs on the counters of Ircon International, Zee Media, NLC and Lupin, Cipla and Astral among others. Bearish crossover on the MACD on these counters indicated that they have just begun their downward journey.
Indian equities closed in the red on Friday amid mixed quarterly results, a reversal of FII activity, a rising dollar index, and an increase in crude oil prices, despite gains in some broader markets. Sensex fell to 66,160, while Nifty closed marginally lower at 19,646, with both indices down by 0.8% and 0.5% for the week