The Nifty50 broke below its crucial psychological support level at 8,150 on Friday and formed a 'Bearish Belt Hold' pattern on the daily candlestick charts for the third time this week.
The Nifty50 opened with slight upside but failed to hold above the 8,150 level and drifted towards its intraday low of 8,127. It witnessed sustained selling pressure for most part of the session. If it stays below the 8,150 level, chances of a further decline cannot be ruled out.
No estimation of black money either before or after Nov 8 :
There is no official estimation of black money either before or after November 8 -- the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Finance Minister Arun Jaitley said today.
There is no official estimation of the amount of black money either before or after the government's decision of November 8, 2016 declaring that bank notes of denominations of the existing series of the value of Rs 500 and Rs 1000 shall cease to be legal tender with effect from November 9," he said in a written reply in Lok Sabha.
The searches conducted by Income Tax Department between April 2014 and November 2016 on 1,356 groups of assessees led to admission of undisclosed income of Rs 31,277 crore apart from seizure of undisclosed assets worth Rs 2,164 crore, he added. Besides, 14,044 surveys conducted during the period, resulted in detection of undisclosed income of Rs 30,492 crore.
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