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Market Report

Monday, 29-Nov-2010

NSE

  • With buying came in the later half of the day, markets closed with handsome gains. Midcap stocks recovered the early losses and closed with gains. Oil & gas sector led the gainers pack today and realty also made its entry into the green territory. The Sensex closed at 19405, up 268 points from its previous close, and Nifty closed at 5830, up 78 points.

  • The bias of the market remains negative and the Nifty could drift down to 5550, says Rajesh Jain, market analyst, on NDTV Profit. The year-end factor could trigger profit booking, he adds.

  • The bias of the market on the weekly charts is positive and we could expect a bounce in the next few sessions which could take us to 5980-6000, says Shardul Kulkarni of Angel Broking on NDTV Profit. Therefore, he does not recommend short-selling and advises using dips to buy largecap and midcap stocks. He sees important support for the Nifty at 5700-5720.

  • The bias of the market remains negative and options build-up is for the downside, says Monal Desai of Prabhudas Lilladher on NDTV Profit. He sees the upside capped at 5600-5900.

NIFTY 3-Month