Post Market Update

As expected, Index is now consolidating in a range after the strong spurt. Midcap & Small cap counters had a good session while the heavy weight remained choppy. Technically, index is likely to retrace in the near term prior to next major move. As per candlestick, it formed long leg doji
yesterday, which indicates selling pressure at the top, but the lower shadow is also an extended one so it may continue to trade in a range.

The BSE Sensex closed lower by 241.37 points at 14,060.66 and NSE Nifty ended down by 48.15 points at 4,270.30. BSE Mid Caps and Small Caps closed with gains of 265.95 and 424.04 points at 4,673.77 and 5,208.18 respectively. The BSE Sensex touched intraday high of 14,405.51 and intraday low of 13,976.49. Among the Sensex pack 16 stocks ended in green territory and 14 in red. The market breadth indicating the overall health of the market remained extremely
positive as 2393 stocks closed in green while 298 stocks closed in red and 44 stocks remained unchanged in BSE. The S&P CNX Nifty was down by 48.15 points or –1.11% to 4270.30.
The NSE turnover was down Rs.28398.75 from last trading session’s Rs. 40151.91crore.