Weekly Market Summary

Last trading day: Friday, 20 November

•  It was a mildly volatile week that ended in the positive. Experts feel Nifty is likely to stay in a range of 4900-5150 for some time and if it crosses crucial resistance of 5080 then it is headed higher. This week's decent figures were: Sensex and Nifty both up almost 1%.BSE Midcap index was up 1%, BSE Smallcap index up 1.5% over the week. BSE Metal index was up 3.75%, BSE Auto index up 2.3%, BSE IT index up 2.2%, BSE FMCGindex up 1.75%.  
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•  It was a busy day on Dalal Street, gap down opening, choppy and then a smart close. Our market gained strength post noon from European markets and then moved up sharply and ended with gains. Banking, metal and oil & gas stocks helped the market rally today. Sensex shut shop at 17021, up 236 points and Nifty at 5052, up 63 points from the previous close. CNX Midcap index was up 1.12% and BSE Smallcap index was up 0.43%. The market breadth was positive with advances at 735 against declines of 537 on the NSE. Top Nifty gainers included ACC, SAIL and Hindalco while losers were Suzlon, Reliance Capital and Reliance Power.  
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•  There will be volatility next week ahead of F&O expiry, but if Nifty is able to close above 5080 then another 150-200 points rally is possible, says Mitesh Thacker, technical analyst, on CNBC TV18. Next week one could see Nifty around 5180-5250, he adds. ExitSuzlon at Rs 80, he adds.  
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• The corrections in the market have been short and shallow, says Deven Choksey of KR Choksey, on CNBC Awaaz. Till the dollar does not strengthen there will be liquidity in the system and market, he feels. Market is likely to move in a Nifty range of 4900-5150, he says. Once it breaks down or out of this range will its direction be clear, he adds. Bajaj Hindustan is his top pick in sugar for short-term gains.