Market gave smart bounceback. Nifty ended above 5800 & Sensex above 19k mark

Eyeing on RBI Credit Policy which will be announced on Monday,17th, market gave a smart bounceback supported by supported by positive global markets. Nifty gained 106.2 points and ended at 5805.3(1.86%) and Sensex gained by 352.62 points and ended at 19179.78.
All the NSE Sectoral Indices closed in positive.CNX Metal Index was the major gainer by 2.85% followed by CNX Auto(2.69%), CNX Realty(2.32%), CNX Commodities(2.26%), CNX Energy(2.26%), CNX Finance(2.23%) and CNX Infra(2.18%).
In Nifty50 stocks, Hindalco gained the most by 8.47% and ended at 105 whereas Indusingbk was the top loser by 1.47% which ended at 481.6.
Advance / Decline ratio was positive 2.63 : 1 as 637 stocks gained and 242 stocks declined today on NSE.

Nifty Outlook :

As described in previous blog, after breaking 5885 level, Nifty Fut. collapsed to 5692.25 yesterday.Considering the RBI policy on Monday, 17th June, market may show abnormal volatility. Bounce back upto 5940 would be considered as a relief rally for the long punters.

Immediate Support : 5775 / 5690
Immediate Resistance : 5880 / 5940