Market Outlook

After the flat opening, index traded quiet choppy in the first half. Technically, index is in range of 3340-3500 levels & either side closing is important for clarity. The index stocks traded
mix but the market breadth remained on the positive side. Despite to current consolidation, Nifty has strong support at 3150 levels now & remaining above the same will keep the
upside biased intact but the uncertainty over the sustainability above 200 EMA resulting in volatility & choppy markets now a days. We expect this to end in a session or two.

AsP pOerS tThe M pAroRviKsiEonTa l figures, the BSE 30-share Sensex was down 32.83 points or 0.3% to 10,990.26. At the day's high of 11,209.66, the Sensex rose 186.57 points in mid-morning trade. At the day's low of 10,863.28, the Sensex fell 159.81 points in late trade. The BSE
clocked a turnover of Rs 4,727 crore today lower than Rs 5,569.51 crore on Friday, 17 Apr09. The market breadth, indicating the overall health of the market, was strong. On BSE 1,520 stocks advanced as compared to 1,047 that declined. A total of 56 shares remained unchanged. The S&P CNX Nifty was down 2.55 points or 0.08% to 3,381.85 as per the provisional figures. The NSE turnover was down Rs.14468.76 crore from last trading session’s Rs.17393.06 crore.