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Market Report

Tuesday, 27-Sept-2011

NSE

  • The markets closed with significant gains today on account of positive global cues. Realty and IT were the biggest gainers in today's session and banking and oil & gas, too, gained substantially. Primarily, it was large cap counters that led the rally and ADAG stocks, too, provided boost to the markets. Oil marketing companies were the only few stocks that lagged in today's bullish trade. The Sensex closed at 16524, up 473 points from its previous close, and the Nifty shut shop at 4971, up 136 points.

  • The top Nifty gainers today were DLF, Tata Motors, JP Associates and RIL while the biggest losers included Cipla and BPCL.

  • There is support for the market at 4700 and we could see a minor bounce back from here but if it is breached then we could fall to 4400, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. A range is building up between 4700 and 5060, he adds.

  • If the Nifty holds 4650 levels, the market can expect an upmove till about 5100-5200 in the short term, says Shruti Vora of Antique Stock Broking on CNBC TV18. If 4650 is held, a bullish reversal is expected and one can play long, she adds. She believes that on the upside, 5250 levels is a gap area resistance, before which one should book longs.

  • We see the market finding decent support at 4750-4800 and therefore, use all declines to go long, says Ambareesh Baliga of Way2Wealth on NDTV Profit. We may see a bounce-back in the Nifty in the near term, he adds.

NIFTY 3-Month