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Market Report

Monday, 31-Jan-2011


  • The markets showed strong rebound in the last hour of the trade, though couldn't manage to close in the green. Recovery was primarily led by capital goods, auto and banking stocks. Realty, FMCG and IT were the worst performers of today's trade. The Sensex closed at 18327, down 68 points from its previous close, and Nifty shut shop at 5505, down 6 points.

  • The Nifty could face some resistance at 5700 on the upside and confidence could re-emerge in the market if this level is breached, says Atul Suri, market analyst, on CNBC TV18. There is support for the Nifty at 5300 which is an important support level for the market, he adds.

  • We expect the market to make a bottom in the next 1-2 trading sessions, says K Anant Rao of Kurtosis Analytics & Advisors on NDTV Profit. There is support for the Nifty at 5350 from which a pullback can be expected, he adds.

  • The market is likely to remain in a range of 5300 on the downside and 5700 on the upside, says Deven Choksey of KR Choksey on NDTV Profit. Market fundamentals are not negative and pulling out of funds is causing the market to be weak, he thinks.

NIFTY 3-Month