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Market Report

Wednesday, 06-Apr-2011

NSE

  • The markets were in consolidation mode today with both the benchmark indices correcting a bit. Midcap and largecap stocks showed good up-move and made the market breadth close positive. Realty performed well today and banking and IT took some correction to close in the red. The Sensex closed at 19612, down 75 points from its previous close, and Nifty shut shop at 5892, down 18 points.

  • The top Nifty gainers today were Sesa Goa, GAIL, Hero Honda and Reliance Power and prime losers included Cairn, Wipro, Bharti and SAIL.

  • The positive trend of the market is likely to continue and after consolidating between 5850-5950, the Nifty could break out, says Amit Gupta of ICICI Securities on CNBC TV18. If 5850 is not held then we could come down to 5750 at which level one should buy, he adds. He expects technology to take a lead in the rally going forward.

  • The market appears to be making new highs instead of creating new lows, says Pradeep Surekha, technical analyst, on Zee Business. The Nifty could go up to 5960-5990 and from there we could see a correction, he adds. He sees important support at 5860.

NIFTY 3-Month