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Market Report

Tuesday, 11-Jan-2011

NSE

  • The markets remained jittery today and banking was the only sector that supported the indices with good volume. Profit booking was seen in IT and along with oil & gas and realty, it pulled the markets down. The Sensex closed at 19196, down 28 points from its previous close, and Nifty shut shop at 5754, down 9 points.

  • The view on the market is cautious to sideways and an important level on the Nifty now is 5690, says Shardul Kulkarni of Angel Broking on NDTV Profit. If this is broken on the downside then the sentiments will become weak, he adds.

  • We don't see much of a downside for the market from here but expect consolidation to continue till the second week of February, says Vibhav Kapoor of IL&FS on NDTV Profit.

  • Buying momentum will come back in a week or so and therefore, wait for a dip before going long, says Manish Shah of Fortune Financial Services on Zee Business. He believes that the market will rally after the Budget.

NIFTY 3-Month