| The markets exhibited high volatility last week. After a strong start, the major indices witnessed significant correction, only to bounce back and cut losses at the end of the week. |
| The Sensex rallied to an intra-week high of 15,569, up 333 points from the previous week’s close. However, a mid-week correction, amid global markets meltdown, saw the index tumbling to a low of 14,896, down 672 points from the week’s high. The Sensex recovered some of its lost ground and ended at 15,138, down 96 points for the week. |
| Last week, we had mentioned that the Sensex may test its near-term support of 14,935. As against our support level, the index made a low of 14,896. The pullback, as it has been on low volumes, looks unconvincing. |
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