Post Market Outlook

Market opened gap up & rebounded strongly after the yesterday’s decline. Due to expiry, it was choppy session but remained upward biased throughout the day. Technically, the tussle over sustainability above 200 EMA is still on as it closed well above the same in the end. Keeping in mind all the cues, US markets are on verge of breakout also so the market likely to behave accordingly & now the 3580 level will be crucial level in the near term.

The BSE Sensex closed higher by 401.50 points at 11,403.25 and NSE Nifty ended up by 111.60 points at 3,473.95. BSE Mid Caps and Small Caps closed with gains of 63.15 and 52.58 points at 3,513.86 and 3,940.90 respectively. The BSE Sensex touched intraday high of 11,430.25 and intraday low of 11,091.56. Among the Sensex pack 29 stocks ended in green territory and 1 in red. The market breadth indicating the overall health of the market remained strong as 1433
stocks closed in green while 1025 stocks closed in red and 88 stocks remained unchanged in BSE.The S&P CNX Nifty was up by 111.60 points or 3.32% to 3473.95 The NSE turnover was up Rs.15524.28 from last trading session’s Rs. 13316.06 crore.