We had a very crucial support at 4800. Now after breaking it yesterday we headed towards more south side. We suspect it to make more lows now. Immediate next support will be 4450 which it made in the Jan 2008
Friday’s Market
A surge in inflation, weak global cues and political concerns dampened the investor sentiments today as share prices declined sharply. All the sectorial indices on BSE were in the red. Reliance Energy was the biggest loser from the Sensex pack. Banking stocks tumbled. European markets, which opened after Indian market, were weak. The 30-share BSE Sensex plunged 566.56 points or 3.42% at
15,975.52, its lowest closing since 18 September 2007. The index had shaved off 852.16 points at the session's low of 15,689.92, hit in afternoon trade.The broader CNX S&P Nifty was down 149.80 points or 3.04% at 4771.60.
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