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Stock Market Today by Shailesh Saraf-24 May 19

FII & PRO have carried short position of 2.20 lakh contracts in index option, suggesting further fall in the market. Yesterday Nifty fell sharply by more than 400 points from its high of 12041 to make a low of 11614. Nifty finally closed at 11657. Nifty PE multiple has made an all-time high of 29.50 and yesterday it was 29.02, which is also suggesting further weakness in the market. As for now, 12050 levels may act resistance for the market.

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