IntradayTrade dot Net
Market Report

Friday, 23-Dec-2011

NSE

  • The markets remained volatile today and after making substantial upside in morning, they came down sharply to close with moderate declines. Oil & gas, banking and consumer durables were the biggest laggards in today's session while capital goods and auto provided support to the indices. Smallcap counters outperformed largecap and midcap stocks to make market breadth positive. The Sensex closed at 15739, down 75 points from its previous close, and the Nifty shut shop at 4714, down 20 points.

  • The top Nifty gainers today were Siemens, BHEL, Grasim and Wipro while the biggest losers included Ranbaxy, NTPC, RCom and BPCL.

  • The markets gained momentum during the week and both benchmark indices closed with significant upside. Oil & gas, auto and banking closed with substantial gains while capital goods lost significantly. The Sensex was up 1.8% while the Nifty gained 1.5% during the week. The BSE Smallcap lost 1.3% and the CNX Midcap index closed with 1.4% loss.

  • The bias of the market is on the upside and we could see the Nifty move up to 4815 by Monday, says Prakash Gaba, technical analyst, on Zee Business. He sees sound support for the Nifty at 4620.

  • The market could go up to 4840 in this rally, says Hemen Kapadia, technical analyst, on Zee Business. The market would need to stay above 4850 to indicate that the uptrend has resumed, he adds.

  • These rallies will remain very volatile but we will still continue to go up, says Mitesh Thacker, technical analyst, on ET Now. We could move up to 4810-4840 in this bounceback, he adds.

NIFTY 3-Month