Post Market Update 28 Apr

After the negative opening, index traded with southward biased throughout the session. Technically, sustainability above 200 EMA is still an issue as it closed below the same in
the end. We witnessed selling pressure across the board as a result market breadth ended on strongly on the negative side. It’s important for the market to sustain above 3300 mark to
continue with the upside bias otherwise it’ll move sideways in the near term. As mentioned earlier, 3150 levels will be the decisive support level of present rally.

The BSE Sensex closed lower by 370.10 points at 11,001.75 and NSE Nifty ended down by 107.65 points at 3,362.35. BSE Mid Caps and Small Caps closed with losses of 133.57 and 138.82 points at 3,450.71 and 3,888.32 respectively. The BSE Sensex touched intraday high of
11,375.97 and intraday low of 10,961.75.Among the Sensex pack all 30 stocks ended in red territory. The market breadth indicating the overall health of the market remained extremely weak as 1807 stocks closed in red while 654 stocks closed in green and 81 stocks remained unchanged in BSE. The S&P CNX Nifty was down by 107.65 points or –3.10% to 3362.35. The NSE turnover was down Rs.13316.06 from last trading session’s Rs. 15334.96 crore.