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Market Report

Monday, 30-May-2011

NSE

  • The markets traded rangebound and with very low volumes today and broader markets out-performed largecap stocks. Healthcare, consumer durables and realty moved up while auto and oil & gas fell sharply. Banking also registered some buying. The Sensex closed at 18232, down 34 points from its previous close, and Nifty shut shop at 5473, down 3 points.

  • The top Nifty gainers were Sun Pharma, Ranbaxy, Cipla and DLF while biggest losers included Mahindra & Mahindra, Hindalco, ONGC and Cairn.

  • Buy Nifty future at 5440 level with a 2-day target of 5500 and stop loss of 5410, says Hemen Kapadia of Chartpundit on CNBC Awaaz.

  • Sell Nifty future with a 2-day target of 5440 and stop loss of 5480, says Hormooz Maloo of Geojit BNP Paribas on CNBC Awaaz.

  • Earnings would be broad-based in the quarters to come, says Nikhil Vora of IDFC Securities on CNBC TV18. The better strategy in this kind of market would be to pick individual stocks rather than going for a particular sector, he adds.

NIFTY 3-Month