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Market Report

Monday, 24-Jan-2011

NSE

  • Banking counters gave the markets the biggest boost and both the benchmark indices closed with the gains of around three-fourth of a percent. The result of Reliance Industries was below market expectations and that has a dampener effect on the markets. Barring healthcare and oil & gas, all the sectoral indices closed in the green. The Sensex closed at 19151, up 143 points from its previous close, and Nifty shut shop at 5743, up 46 points.

  • It is difficult to give any trading call till the RBI credit policy is announced but after the announcement RIL, SBI and Sesa Goa would be interesting stocks to watch, says Hemen Kapadia of Chartpundit on NDTV Profit.

  • The market is likely to remain in a range with resistance seen at 5700-5800 and support at 5600, says Prakash Diwan of Networth Stock Broking on Zee Business. He sees this F&O expiry at 5700-5800.

  • There is strong support for the Nifty at 5600 and this is unlikely to get broken on the downside, says Rakesh Gandhi of LKP Shares on NDTV Profit. As 5600 is crossed, the next target would be 5760 and the market will go into consolidation mode, he adds. Below 5600 he sees firm support at 5500.

NIFTY 3-Month