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Market Report

Monday, 27-Sept-2010


  • It was a good close for the Indian market today on the back of buying in many sectors, led by metal which was really strong in trade today. Other sectors which saw buying interest were oil & gas, realty and consumer durables. However, there was profit taking in IT which led to volatility in the last hour of the trading session. Sensex shut shop at 20117, up 72 points and Nifty at 6035, up 17 points from the previous close.

  • The Nifty is in an uptrend and will test an all-time high in the next two weeks, says Hemen Kapadia, technical analyst, on CNBC TV18.

  • The market remains in an uptrend and the Nifty now has support at 5920, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees resistances for it at 6040 and then 6130.

  • The trend is bullish and the market may move up till expiry because there are many shorts present in the system, says Shardul Kulkarni of Angel Broking on NDTV Profit. So hold existing long positions with stop loss of 5900 but fresh buying should only be on dips to around 5700 and not at this level, he adds.

NIFTY 3-Month