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Market Report

Wednesday, 16-Mar-2011

NSE

  • The Markets gained significantly today as buying returned in credit related stocks like banking and realty. Global cues were also positive. Other lead gainers include auto, consumer durables and healthcare. The Sensex closed at 18358, up 191 points from its previous close, and Nifty shut shop at 5511, up 61 points.

  • There is good support for the Nifty at 5400 and if this is breached then we could see a fall of 50-70 points, says Deven Choksey of KR Choksey Shares & Securities on NDTV Profit. The market will remain in a trading range of 5400 and 5600, he adds.

  • The market is likely to trade in a range of 5400 and 5550-5600, says Nitin Murarka of SMC Global on NDTV Profit. If the Nifty level of 5300 is breached on the downside then we could see sharp selling coming in, he adds.

  • The short-term trend of the market is sideways and there is a broad range of resistance for the Nifty between 5500 and 5700, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. There is support at 5200-5100 and if this is breached we could even go down to 4800, he adds. He sees selling pressure coming around 5650.

NIFTY 3-Month