Market Report - 20/12/2013

Week ending 20th Dec 2013 the index closed at 5857.36 which was a retracement of  .16% from the 19th close of 5867.00. However  wow it was an increase of .78% as the previous week's close was 5811.88.

Something of Interest
The present up trend was  initiated on the 28th of November 2013, in that period of 16 days we saw 4 bear candles and 12 bull candles, whilst the last been a bear candle. The index had increased from an open of 5744.29 on the 28th of Nov to a close of 5857.36 on the 20th of Dec. An increase of  113.07 points or 1.97%. As many would suggest the  period towards the latter part of an year the market tends to backtrack, but interestingly both this year and the last it has not been so. On the 6th of Dec 2012 the market had gone into a bull trend, which lasted for a period of 29 days till the 18thof Jan 2013. The index that was 5783.33 on the 6th of Dec '12 had gone upto 5875.77 by the 18th of Jan'13. That is an increase of 92.44 points(+1.6%). The present situation is interesting for 2 reasons. 1. Market has already gone up 113.07 points(+1.97), in 16 days. 2. We are just around the peak of the said up trend.