Market mildy positive

The markets closed at the lower end of the intraday range as bulls continued to remain on the fence where big-ticket buys were concerned. The market internals were positive, which is a mildly positive sign.

The 4,640-4,440 range advocated for Friday held as the Nifty spot traded within these parameters. The coming session is likely to witness a range of 4,560 on advances and 4,470 on declines.

The upmove will be deemed sustainable in the coming week only if the Nifty manages to trade consistently above the 4,560 level. The 4,535 level will be a bullish threshold, above which the bulls will continue to dominate the sentiments on Monday intraday.

The market internals indicate a lower turnover as the participation levels fell marginally due to the weekend factor. The number of trades decreased and the average ticket size was lower, indicating a weak selling bias. The capitalisation of the market was lower in line with a downtick session.

The outlook for the markets on Monday is that of cautious optimism as overseas cues will determine the immediate outlook. Avoid aggressive trades in either direction for now.

via Business Standard