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Market Report

Thursday, 05-Jan-2012


  • It was a see-saw day of trade for the Indian market which opened marginally positive and then traded within a tight range. Today's losers were realty, metals and oil & gas stocks but some positive move was seen in banks and capital goods. Sensex shut shop at 15857, down 25 points and Nifty at 4749, up 0.3 points from the previous close.

  • Top Nifty gainers today were Cairn India, Bajaj Auto and PNB while losers included DLF, GAIL and BPCL.

  • Upside for the Nifty could be capped at 4820-4840 with support at 4600-4630 and the market is likely to stay within this range for some time, says Gaurang Shah of Geojit BNP Paribas on NDTV Profit. Earnings season is to be a key trigger for the markets, he adds. Buy at 4500-4550 into largecaps for 15-20% returns, he advises.

  • The upmove is still there in the short term and if the market is able to close above 4782 then strength will continue with a target of 4816, says Prakash Gaba, technical analyst, on Zee Business. There is support at 4700, he adds.

  • As long as 4700 holds, we could see the rally re-start which could take the Nifty up to 4900, says Ashwani Gujral, technical analyst, on ET Now. He sees resistances at 4778 and 4807 with support at 4724.

  • Weekly Inflation: Primary articles inflation for week ended December 24 has come in at 0.1% versus 2.7% (WoW), food articles inflation at -3.36% versus 0.42% (WoW) while fuel group inflation is at 14.6% versus 14.375% (WoW), reports NDTV Profit.

NIFTY 3-Month