I couldn't have been more wrong last fortnight, as Santa played truant. I had expected the markets to soar, as the Nifty had rebounded from the neckline of the inverse Head & Shoulders pattern on December 13 and recorded its highest close since October 21.
The markets took a sharp U-turn for the worse from December 16, continuing to slump each day and losing 1,231 points (4.97%) in the first week of the fortnight. Last week, it recouped 351 points intraday but ended with a gain of 226 points (0.96%). The Nifty at 23,813 is now below all its key averages, be it the 10, 20, 50, 100 or 200 days simple moving average.
There were only four trading sessions last week and all the trading took place in the shadow of the large candle that was made the previous week on December 20.
This story is from the December 30, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 30, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Assocham calls for eliminating coal cess
INDUSTRY BODY ASSOCHAM has pitched for the removal of coal cess stating that the move will support power-intensive industries like aluminium and maintain competitiveness of the domestic industry.
We are living in a 24x7 economy
A FEW DAYS AGO, L&T chairman SN Subrahmanyan's comments on the 90-hour work week, and \"how long can you stare at your wife\", followed by company's HR head Sonica Muraleedharan's subsequent clarificatory statement, have sparked widespread public debate.
Chennai Express charges ahead
Refined, familiar, and the fastest Creta ever produced, with more than 400 km real range
LTIMindtree hopeful of sustaining growth momentum going ahead
FY26 TO OUTPERFORM FY25, SAYS MD & CEO
Skilling shouldn't be on a budget
● Focus on women, migrant workers, infrastructure
A big display for entertainment
• A budget phone that provides a hasslefree experience
The promise and perils of agentic AI
● Guardrails are needed for its safe and responsible use
Trump Holds Victory Rally Ahead of Inauguration
Mukesh, wife Nita to attend the event
Protesters storm court after it extends Yoon's detention
HUNDREDS OF SUPPORTERS of South Korea's arrested president, Yoon Suk Yeol, stormed a court building early on Sunday after his detention was extended, smashing windows and breaking inside, an attack the country's acting leader called \"unimaginable\".
These Men in Blue break boundaries for the disabled
ON JANUARY 7 this year, a 17-member Indian cricket team was given a warm send-off for a four-nation Champion Trophy tournament in Sri Lanka.
