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Market outlook-cautiously optimistic
Quantitative Analysis :
The BSE Sensex ended at 40281.20, down by 82.03 points or 0.20% after trading in a range of 40220.59 and 40536.00. There were 15 stocks advancing against 14 stocks declining on the index, while one stock remain unchanged.The broader indices ended in red; the BSE Mid cap index declined 0.44%, while Small cap index was down by 0.45%.The CNX Nifty ended at 11797.90, down by 31.50 points or 0.27% after trading in a range of 11779.90 and 11883.05. There were 21 stocks advancing against 29 stocks declining on the index.The top gainers on Nifty were TCS up by 1.93%, Tata Steel up by 1.41%, JSW Steel up by 1.41%, SBI up by 1.19% and Zee Entertainment up by 1.12%. On the flip side, Dr. Reddys Lab down by 2.81%, Hindalco down by 2.57%, GAIL India down by 2.40%, Eicher Motors down by 2.33% and Sun Pharma down by 2.25% were the top losers.
For the upcoming session, we expect some more upside near to 12400-450 in near term however profit booking opportunity cant be rule out. Any profit booking scenario should be used as an opportunity to go long..............
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