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Market Report

Monday, 28-Mar-2011

NSE

  • It was rangebound markets today with both the benchmark indices making moderate gains. Auto and banking stocks led the gainers' pack and healthcare, realty and metal remained among laggards. The Sensex closed at 18943, up 127 points from its previous close, and Nifty shut shop at 5687, up 33 points.

  • In the short term, the triggers are positive and crucial levels for the market are 5690 and 5750, says Pankaj Jain of Satguru Capital on Zee Business. If crude oil prices go to $90-95 per barrel, then this will have a positive impact on the market but prices above $110 per barrel would be negative for the market, he adds.

  • We are likely to see a rally towards expiry which will take the Nifty up to 5750-5800, says Ashish Chaturmotha of IIFL Wealth on NDTV Profit. There would be stock specific action but after expiry we could see profit booking, he adds.

  • The market is likely to close this expiry at 5750-5800, says Mitesh Thacker, technical analyst, on CNBC TV18. There are many supply points towards 5695 but overall the trend is up and we could be heading to 5850-5900 shortly, he adds. The Nifty level of 5750 is a crucial one, he believes.

NIFTY 3-Month