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10 February, 2010 09:35 IST

N-deal decision may help in market recovery

Source: IRIS (21 August 2008)

N-deal decision may help in market recovery
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Technical analyst, Vishwas Agarwal commenting on the market said, ``Market has fallen as it was unable to reach 14,786 level. The banking sector led the fall, being an important sector for the stock market in the last two months. The sector was holding the market but when this sector became weak the entire market was shocked and the unwinding process started ``.

Agarwal further added, `` We earlier said, August 12 to 22 was a bad period for the market. During this period market closed at higher note only once and other all days market closed in the red. In the energy sector decision regarding the nuclear deal will come tomorrow may will help in some recovery of the market. On the BSE 14,150 and 13,875 is the nearest support for the market. Crude oil as touched USD 120 which is negative for the market. Overall there is a cautious mood in the market. ``

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