Market Wrap for 30th August, 2016

by Tufan Nag on Market Analysis, Market Wrap

The index opened with a gap up and rallied by 137 points to close around 8750. It maintained positive sentiment throughout the whole trading session and made a fresh 52 week high. The bulls maintained the spirited rally and gave a smart breakout. The level of volatility decreased in the second half. On the daily chart the index formed a bullish marubozu type candlestick pattern. From hereon we can expect the index to move higher.

Under Asian indices Nikkei 225 closed marginally down.

Both Maruti and Bajaj Auto gave a smart breakout and closed at 52 week high.

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