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Market outlook-cautiously optimistic
Quantitative Analysis :
The BSE Sensex ended at 40666.85, down by 797.76 points or 1.92% after trading in a range of 40613.96 and 41378.34. There were 3 stocks advancing against 27 stocks declining on the index.The broader indices ended in red; the BSE Mid cap index fell 2.34%, while Small cap index was down by 1.93%. The CNX Nifty ended at 11989.65, down by 237.00 points or 1.94% after trading in a range of 11974.20 and 12179.10. There were 4 stocks advancing against 46 stocks declining on the index.The top gainers on Nifty were Titan Co up by 1.52%, Wipro up by 0.34%, Dr. Reddys Lab up by 0.04% and TCS up by 0.03%.On the flip side, SBI down by 4.61%, Bajaj Finance down by 4.61%, Vedanta down by 4.47%, Zee Entertainment down by 4.42% and Yes Bank down by 3.82% 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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