In the last trading session, the National Stock Exchange (NSE) benchmark index opened slightly above its previous closing level of 11,536.90 to 11,558.25 and closed slightly higher at 11,589.10. However, it fell sharply below 11,500 to hit an intraday low of 11,484.40. Although the index saw some profit booking at higher levels, which dragged the market below the psychological 11,600-mark at close.
The index formed a small bullish candle on the daily charts, which also resembles a hammer like a pattern. It is the recovery in the dollar-rupee and stability in crude oil prices supported the market very much.
Taking a cue from global sentiment and previous trading session, it is expected to see the negative sentiment in today’s session.