Post Market Review

Index has its fourth consecutive session of volatility & choppiness but more over it remained northward biased. Metal counter outperformed in today’s session while the Midcap stocks also participated well. Despite to range bound move, market breadth was persuade towards advancing side. Keeping in mind all the global cues & technical patterns, we expect that stock specific will be there in the near term with less emphasis on overall index movement. Global markets are also in line with our markets which is indeed positive signal for the near term.
Support –3630-3580 Resistance – 3710-3760

The 30-share BSE Sensex closed 164.19 points or 1.37% higher at 12,116.94 and the 50-share NSE Nifty shut shop at 3683.90, up 1.62% or 58.85 points over previous close. But broader indices outperformed the benchmark indices - the BSE Midcap Index was up 101.10 points or 2.75%, to settle at 3,776.94 and the Smallcap Index rose 2.66% or 110.59 points, to 4,263.60. Market breadth was positive due to gains in broader indices. About 1921 shares advanced while
1053 shares declined. Nearly 138 shares remained unchanged The S&P CNX Nifty was down by 58.85 points or 1.62% to 3683.90. The NSE turnover was down Rs.14874.22 from last trading session’s Rs. 18634.44 crore.