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Market Report

Tuesday, 21-June-2011

NSE

  • The markets closed with moderate gains today with largecap stocks outperforming broader markets. Realty and capital goods lost significantly while oil & gas and IT made robust gains. Banking sector also came under pressure and the Bank Nifty breached its crucial support level of 10,500. The Sensex closed at 17560, up 54 points from its previous close, and the Nifty shut shop at 5276, up 18 points.

  • The top Nifty gainers today were TCS, Ambuja Cements, IDFC and Sun Pharma and the biggest losers included Jaiprakash Associates, DLF, Reliance Infra and SBI.

  • If the market is able to climb back to 5370 then we could see a revival of bullish sentiments otherwise it is a lost cause and though there will be temporary bounces the Nifty could head down to 4700 and 4400, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit.

  • The market could go down to 4900-4700 but in between we could see a bounceback to 5400, says Sushil Kedia of ATMA on CNBC TV18. The market continues to be in a decline and more importantly, heavyweights like RIL, SBI and Infosys are continuing to decline and stocks like L&T and ITC are preparing to crack, he adds.

  • There is support for the Nifty in the short term at 5200 and resistance at 5400, says Dhaval P Vyas, technical analyst, on Zee Business. We are likely to see more declines in the next 1-2 days which will continue and take the market down to 5000-4900, he adds.

NIFTY 3-Month