Yesterday Market Summary

Last trading day: Thursday, 19 November

 Global weakness and profit booking put pressure on our market that closed weak. Sensex shut shop at 16785, down 213 points and Nifty at 4989, down 65 points from the previous close. CNX Midcap index was down 1.48% and BSE Smallcap index was down 1.08%. The market breadth was negative with advances at 353 against declines of 899 on the NSE. 

Nifty is unlikely to break below 4500 and may take a pause for another week before it heads up. Nifty is likely to head to 5300-5400 levels where one can book profits and then re-enter the market on dips. Indian market is a good long-term story.