The market traded on a volatile note ahead of the weekly expiry. Nifty recovers from the day's low and manages to close in green while Sensex ends flat.
At close, Sensex was weak by 37.40 points or 0.08 per cent at 44,618.04 and Nifty was strong by 4.80 points or 0.04 per cent at 13,113.80.
The sectoral indices other than Nifty Bank and Nifty Financial Service end in green.
Metal (2.56 per cent) and Real Estate (2.96 per cent) emerged as top-performing sectors for the day.
About 1573 shares have advanced, 1124 shares declined and 134 shares remain unchanged
GAIL (5.24 per cent), ONGC (4.05 per cent), Asian Paints (3.85 per cent) & Titan (3.57 per cent) are Index’s top gainers for the day. On the other hand, Kotak Mahindra Bank (-3.29 per cent), HDFC Bank (-1.84 per cent), HDFC Ltd. (-1.33 per cent) and Shree Cement (-1.09 per cent) are among the top losers.
Author’s View: Nifty’s support at 13,000 level remains intact. 13,100 – 13,150 level will act as strong resistance for Nifty. Once these levels are decisively broken we can see a further rally up to 13,500 level.
Since the market is trading in an overbought zone, we would recommend traders to be cautious before initiating any fresh positions.
Disclaimer: The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.
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