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Market Report

Wednesday, 23-Mar-2011

NSE

  • It was smooth trade in the markets today with no hiccups and all sectors gained with good volume. Realty and banking outperformed all other sectors with almost 2% gains in a single trading session. The Sensex closed at 18206, up 217 points from its previous close, and Nifty shut shop at 5480, up 66 points.

  • The market is looking directionless and stuck in a range of 5375 and 5550-5600, says Shardul Kulkarni of Angel Broking on CNBC Awaaz. Go short below 5375 and go long above 5550, he adds.

  • There is stiff resistance for the market at 5550 level and till it does not give a closing above this, one should book profits at higher levels, says Amit Gupta of ICICI Securities on CNBC TV18. He advises adopting a strategy of buying at 5300 and taking profits at 5450-5550 and sees the market trading in a range for the month of April, too.

  • Volatility in the market is likely to continue as long as crude stays volatile, says Vijay Chopra of Fullerton Securities on Zee Business. The easing of Japan crisis will have an impact on our markets, too, he adds.

NIFTY 3-Month