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Market Report

Tuesday, 20-Dec-2011

NSE

  • It was a volatile day in the markets with both benchmark indices closing with significant losses. Metal and capital goods remained the worst performers in today's session and realty and auto, too, played their roles in pulling the indices down. FMCG was the only sector that managed to close positive. The Sensex closed at 15175, down 204 points from its previous close, and the Nifty shut shop at 4544, down 69 points.

  • The top Nifty gainers today were Ranbaxy, ONGC, HDFC Bank and ITC while the biggest losers included JP Associates, Hero MotoCorp, L & T and Tata Power.

  • Market sentiments continue to be negative and the Nifty level of 4720 would prove difficult to cross, says Ashish Chaturmotha of IIFL Wealth on NDTV Profit. If the market goes below 4500 then the next targets would be 4400 and then 4300, he adds. Create short positions at 4700-4750 with a 2-3 day target of 4400-4450, he advises.

  • Overall, the market trend is down so sell into a rally instead of creating long positions, says Manish Shah of Fortune Financial Services on Zee Business. On the upside, the Nifty December Futures could test 4660, he adds.

  • The broader trend of the market is down with the upside capped at 4700-4720, says Mitesh Thacker, technical analyst, on ET Now. In the next two days we could see a bounceback which would be mild and volatile, he adds. A downside target of 4450-4480 on the Nifty could be met in the short term, he says.

NIFTY 3-Month