Post Market Update

Market opened marginally on the positive side & remained northward biased. As we have mentioned in our yesterday’s newsletter that index is forming flag pattern that is continues
in nature & it broke out from the same today. Interestingly, Index majors like reliance & ongc were also forming the same pattern, which confirms the positive move ahead. We witnessed buying across the board but the cash market volume was marginally low in comparison to last week’s average. Market breadth was also on the positive side. Technically, 3550+ level is likely to tested in the near term.

The BSE SENSEX closed higher by 317.45 points at 11,134.99 and NSE Nifty ended up by 93.40 points at 3,423.70. BSE Mid Caps and Small Caps closed with gains of 51.40 and 37.10 points at 3,534.18 and 3,999.78 respectively. The BSE Sensex touched intraday high of 11,203.28 and intraday low of 10,758.97. Among the Sensex pack 27 stocks ended in red territory and 3 in green. The market breadth indicating the overall health of the market remained positive as 1441 stocks closed in green while 1056 stocks closed in red and 103
stocks remained unchanged in BSE. The S&P CNX Nifty was up by 93.40 points or 2.8% to 3423.70. The NSE turnover was up Rs.13577.00 crore from last trading session’s Rs.15160.41 crore.