Nifty below 6000, Sensex below 20000.

24th May 2013, Market struggled to recover from yesterday's losses but failed to recover most. Nifty ended at 5994.7, gained 27.65 points and Sensex ended at 19731.27, positive with a 56.94 points. In NSE Sectoral Indices, CNX Metal index gained the most by 1.68% followed by Infra(1.49%). CNX pharma was the top loser by 0.72%. 
In Nifty50 stocks, Maruti was the top gainer by 7.86% whereas Sunpharma was the top loser by 3.11%. Unitech ws the turnover topper by the quantity traded and SBIN by the traded value on NSE today.
Advance Decline ratio was positive by 1.3 : 1 as 723 stocks gained and 557 stocks declined today on NSE.

Nifty Outlook : 

As mentioned in our previous blog, we have seen a volatility of 302.9 points or 5.05% in a week. Nifty didnt move above 6240 and nosed down after making a weekly high of 6239. Considering a breach of short term long trend, Nifty Fut. will trade in a range of 5890 to 6080. 31st May is the last date of the May, 2013 contract and it may attracts volatility.

Immediate Support : 5960 / 5890
Immediate Resistance : 6080 / 6160