Market Outlook Apr 15

Index dipped on the opening note but recovered strongly
thereafter. It broke out of consolidation range of 3300-3400
levels on the upper side & closed well above the resistance
zone of 3400 levels. Technically, index closed above 200 EMA
after the May08 that indeed is an important bullish signal &
it's sixth consecutive week for it to trade in green. As advised
earlier, keep booking partial profit in your short-term trading
positions & wait for fresh buying pivot to form for reentry.
AsP pOerS pTro MviAsioRnKalE cTlo sing, the BSE 30-share Sensex was up 356.03
points or 3.25% to 11,323.25. At the days high of 11,337.75, the
Sensex rose 370.53 points in late trade, its highest level since 14
October 2008. At the days low of 10,719.18, the Sensex fell 248.04
points in early trade. The BSE Mid-Cap index was up 4.10% and the
BSE Small-Cap index was up 5.34%. Both the indices outperformed
the Sensex. The market breadth was strong. On BSE, 2181 shares
rose as compared to 461 that declined. A total of 59 shares were
unchanged. The Sensex clocked a turnover of Rs 7678 crore, much
higher than Rs 5,420.30 on 13 April 2009. The S&P CNX Nifty was up
113 points or 3.34% at 3495.60. The NSE turnover was down Rs.
20995.79 crore from last trading session’s Rs.15397.98 crore.