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1. Weak global cues failed to depress the Indian market that showed good character and convincingly closed above 20000 for the Sensex and 6000 for the Nifty since four trading sessions.
2. It was modest gains all across; the weekly figures are: Sensex up 0.3%, Nifty 1.2%, CNX Midcaps 5.5%, BSE Smallcaps 7.5%, BSE Realty Index 7.3% and BSE Metal Index 5.5%, BSE Healthcre Index 7.6%, BSE Oil& Gas Index 2% and BSE Auto Index 1%. Only the BSE IT Index was down 4% and BSE Consumer Goods Index down by 1.7%.
3. The firm conclusion which can be drawn is that Nifty is in uptrend till it holds 20 DMA i.e. 5775. Any market that makes consistent highs even amid weak global cues is a strong market and same is holding true for Indian Stock Market.
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