11 Nov

Sensex has been alternating between positive and negative zones during the week. However, it is well supported at the 16,400 level, a good sign from a statistical standpoint.

During the weekend, the Prime Minister indicated that the stimulus plans will be backed out in the next calendar year. So people anxiously waited how the market sentiment would be. Some people felt that withdrawal is too premature. Others felt that is a positive sign that the economy is heading out of the woods. Looks like the market supported the later school of thought.

We need to see how the next few sessions fare.

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