Daily Market Reports

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A daily market report of equities movement in Bombay Stock Exchange is provided here.

Market report for Thursday, February 26, 1998.

Today's Technical Analysis :
(By VSR)

Market in a positive moode

The Bombay Sensex today went up by 86 points and the Nifty was up by 9 points over its previous closing. The Market has maintained its uptrend which has commenced from the low of 3300 and 950 respectively- now is in a strong position. Whith no major disturbances seen in the macroecomic sphere, this position is unlikely to alter in the immediate preiod. However the correction can not be ruled out has the market is facing a resistance at these level, with the short term chart indicating an over bought position. The RSI and ROC indicator have crossed the cross over line and are in a good position. As said earlier market are now facing a long term trend line at level of 3600 and now are towards it. As the election results are nearing market men will become more wary and adopt a cautious approach to further commitments at higher levels and may have to close their long positions and follow the prevailing scenario. Traders are advised to hold their long positions in pivotals.

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