A morning walk down Dalal Street | Momentum may stall, corrective swing towards 11,230 likely

Nifty registered a sixth straight session of gains. Bulls maintained their grip despite some profit booking at higher levels. The momentum will weaken further in the case, bulls fail to keep Nifty50 afloat above 11413-11400 levels this week.

The S&P BSE Sensex held on to its support at 38000 while Nifty failed to close above 11500 levels. 

The final tally - the S&P BSE Sensex closed 70 points higher at 38,095 while the Nifty50 closed 35 points up at 11,462. The S&P BSE Mid-cap index closed 0.2 percent lower while the S&P BSE Small-cap index fell 0.13 percent.

It looks like, investors are awaiting the outcome of the US Fed policy meeting due later in the week to get more cues about global market movement as well as US-China trade talks.