Minor Gains in the Market

Friday, May 30, 2008 | | |

Sensex closed with a gain of just 99 points.Market breadth continues to be negative.Sustained selling was seen in the midcap segment.The market breadth was negative - out of 2,767 stocks traded, 1,008 advanced, 1,701 declined and 58 were unchanged today.The NSE Nifty finished with a gain of 35 points at 4,870.
What to Expect Next Week
The Nse Nifty is expected to find strong support at 4825 and resistance at 4920.Exit longs below 4825.Fresh buying is not happening in the market and we expect volumes to be thin.