Post Market Outlook 19-May

After the yesterday’s exceptional rise in index, it opened on the positive note but remained in a range of 4200-4500 levels in the today’s session. Due to broader range, there was
strong stock specific movement while the index majors traded mixed. Technically, we may find index facing resistance around 4600 mark on the other hand now 4000 level will act as
support. We may again see a consolidation range development prior to further move. For short-term traders, we advise to continue to book profit on every rise & wait for the market to correct for buying opportunities.

The BSE Sensex ended marginally up by 17.82 points at 14,302.03 whereas NSE Nifty closed slightly lower by 4.70 points at 4,318.45. BSE Mid Caps and Small Caps ended with gains of 153.34 and 117.40 points at 4,407.82 and 4,784.14 respectively. The BSE Sensex
touched intraday high of 14,302.03 and intraday low of 13,834.13. Among the Sensex pack 18 stocks ended in green territory and 12 in red. The market breadth indicating the overall health of the market remained positive as 1927 stocks closed in green while 739 stocks closed in red and 48 stocks remained unchanged in BSE. The S&P CNX Nifty was down by 4.70 points or –0.11% to 4318.45. The NSE turnover was up Rs.40151.91 from last trading session’s Rs. 170.32
crore.