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(From The Economic Times)
Byline: Rajiv Nagpal
For the initial part of the week the news flow from the domestic front was not very encouraging. But on the last trading session, news that private PFs would be allowed to invest in the market propelled the sensex upward very sharply.
As far as the international markets are concerned, there was hardly any major news that could be classified as positive.
The technical charts have another story to tell. The long-term oscillators, which had turned weak, have maintained status quo, but at the same time the short-term ones, which had moved into the extreme oversold territory, are moving up.