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MArket Analysis

Tech view: Volumes hold the key (Business Standard 26th Feb 2008)The markets had a bullish session as the overseas cues kept the undertone optimistic, though not outrightly exuberant. The traded volumes were subdued and the market breadth was positive. The combined exchange figures were 2475:1435. The capitalisation of breadth was also positive as the commensurate figures were Rs 11551 crore:Rs 4120 crore.The indices have closed at the upper end of the intraday range and that too on positive market breadth. The poor volumes are partly because of the wait-and-watch approach ahead of a major news trigger (budget), as also the impending derivatives series expiry.The intraday range of 5100 / 5300 held as the Nifty retraced from 5281 itself. The intraday range in the coming session will be 5220 / 5320 due to the small base effect on Tuesday. Trading volumes must improve above the 5320 levels if the upmove is to be sustainable. More
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