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Market Report

Tuesday, 04-Jan-2011

NSE

  • After four days of a rally, the market appeared to be taking a breather today and closed with moderate losses after a bout of profit booking. Sectors that came under pressure today were metals, banks, autos, capital goods and telecom. Sensex shut shop at 20498, down 62 points and Nifty at 6146, down 11 points from the previous close.

  • The Nifty level of 6150 is a crucial one for the market, says Rajesh Satpte, technical analyst, on Zee Business.

  • There is a high chance of a mild correction coming in because the market is showing some signs of tiredness at 6200 level, says Anu Jain, technical analyst, on NDTV Profit. One should be cautious at this level, she adds. She sees support at 6090.

  • Consolidation in the market is likely to continue till the result season and we could see the Nifty moving in a range of 6100 and 6200, says Jitendra Panda of Motilal Oswal Securities on NDTV Profit. If the Nifty crosses 6200 then the next level would be 6300, he adds. He advises going long in the Nifty with a stop loss of 6120.

NIFTY 3-Month