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Market Report

Wednesday, 22-Sept-2010


  • After 10 days of a bull run, the Indian market took a breather and came in for a bout of profit taking. After some choppiness it, however, managed to come off the lows of the day and close with small losses. Sectors that were weak today included capital goods, infrastructure and IT while those that provided good support were banking and financials plus auto. Sensex shut shop at 19941, down 59 points and Nifty at 5991, down 18 points from the previous close.

  • I am cautious on the market and would advise investors to exit on every rise, says Shailesh Kadam, market analyst, on NDTV Profit. He sees 6300 as the next target on the Nifty.

  • After a sizzling rally there appears to be some uncertainity on the charts which suggest the market could take a pause or even a dip, says Sudarshan Sukhani, technical analyst, on CNBC TV18. On an intra-day basis, the Nifty level of 5950 could provide a good buying opportunity, he adds.

  • Global investors are putting more money in emerging markets as they are poised for a stronger growth and there is less debt noose around the neck, says Robert Doll of Black Rock on CNBC TV18. He expects flows to continue into these markets. India, among others, is getting the investors' fair share believing that those economies are going to be part of the global recovery, which is sound logic, he adds.

NIFTY 3-Month