Money Tree

The markets after having a gap down opening bounced back in the morning and thereafter remained volatile to end negative in the end. The NIFTY closed at 4179.50 down 18.75 points and Sensex closed at 14186.18 down 69.75 points. The advance decline ratio was also negative with 399 advancing stocks to 667 declining stocks on NSE.
The NIFTY fell down near 4150 levels where it found support and was pulled back in the green. It remained above 4200 levels for quite some time but could not hold and fell down from above 4200 levels. We had indicated in the morning that a strong support exist at 4142 levels and if breached NIFTY would slide further, but the NIFTY did not breach this level and was pulled back from 4150 levels.