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Market Report

Tuesday, 18-Jan-2011

NSE

  • The markets traded firm today and it was IT that provided the biggest boost to the indices. FMCG, metal and pharmaa sectors also saw buying interest. The Sensex closed at 19092, up 209 points from its previous close, and Nifty shut shop at 5724, up 69 points.

  • A relief rally is likely to be in the offing for the market, especially for largecaps, says Shashank Khade of Kotak Securities on NDTV Profit. Earnings and government polices will decide further course of market trend, he adds.

  • The Nifty now faces resistance at 5750-5780 and has formed a base at 5600, says Vijay Bhambwani, technical analyst, on CNBC Awaaz.

  • We have a bearish outlook on the Nifty in the medium term, says Somil Mehta of Sharekhan on NDTV Profit. Immediate resistance is at 5760 and then 5830-5840, he adds. He is negative on metals and banks.

NIFTY 3-Month