Thursday, October 16, 2008

What a fall & What a bounce !!!

Today(16-10-08)as anticipated, at the opening Nifty plunged to 3150 level and moved downwards to 3100. From 3100 it bounced back as apprehended in the last post, to 3329 level (just 9 points down from yesterday closing of 3338)and gave a feeling that Nifty may close in green before moving down and closed at 3269. That is, a clean recovery of 97 percent(or 230 points)in the day when all US and Asian markets are down by 5 to 11 percent. It is really fantastic and gives hope for a continued uptrend for tomorrow.

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