A new stock exchange, MCX-SX is born on Saturday the 9th February 2013. It will start breathing from Monday the 11th February 2013. With its 40-stock index named SX40, MCX-SX is the third full-fledged equity bourse after BSE and NSE. Welcome to the new stock exchange that is most modern in technology when compared to the existing BSE and NSE and likely to roll out more customer friendly products. After the setting up of NSE, radical changes have been introduced in trading stocks & derivatives. Hope that the new stock exchange will also add new methods and systems for the improvement of the stock market in India.
The table above shows the trend of Nifty turning to red on 31st January, 2013 the day Nifty closed @6035 below 4DMA( 6054) & EMA10(6048) as described in January 1st, 2013 post. Friday's Nifty low is 5884, near the figure 5888 in the table dated 1-1-13. This week the present down move will be terminated most probably on Monday or Tuesday.