IntradayTrade dot Net
Market Report

Friday, 18-Mar-2011


  • The Markets registered sharp decline today and all sectoral indices closed in the red. The letter to government from Reliance Industries that production from the company would come down pulled the markets down significantly and increasing crude price had its negative impact on auto sector as well. The stocks from ADAG group were also under selling pressure today and remained among the biggest losers of today's session. The Sensex closed at 17878, down 271 points from its previous close, and Nifty shut shop at 5373, down 72 points.

  • The markets remained inconsistent this week and overall it was negative trend that had upper hand during the week. Both the benchmark indices and all sectoral indices closed in the red and the numbers are following: the Sensex was down 1.6% and Nifty was also down 1.3%. The CNX Midcap index was down 2.3% while BSE Smallcap index was down 1.4% over the week.

  • Market has been persistently holding out to all odds floating around and has priced in all negatives, says Krishna Kumar Karwa of Emkay Global Financial Services on CNBC TV18. He sees the Nifty stuck in a range of 5400 and 5500 range and believes that it is unlikely to fall below 5200. The expectations are that liquidity will improve in the coming financial years, he adds.

  • The mini 'Channel' pattern continues to be applicable on the charts with resistance seen at 5560 and support around 5370 on the Nifty, says Gautam Shah of JM Financial on CNBC TV18. He believes that a breakout in either direction may cause a 100-point move while a close above the 5640/18800 level is necessary to confirm a trend reversal. Our bias continues to be on the downside, he adds.

NIFTY 3-Month