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Market Report

Thursday, 19-Jan-2012

NSE

  • The markets made robust gains today and the Nifty closed above its psychologically important level of 5000. Realty and metal were the biggest gainers in today's session and banking and auto, too, made substantial gains. IT and FMCG were the only two sectors that closed in the red. The Sensex closed at 16644, up 192 points from its previous close, and the Nifty shut shop at 5018, up 63 points.

  • The top Nifty gainers today were Reliance Infra, Tata Power, Sterlite Industries and JP Associates while the biggest losers included BHEL, Mahindra & Mahindra, Bharti Airtel and Siemens.

  • The expectations are decently low as far as Budget is concerned, but, post-Budget, post-political realignment, which we are looking forward to that should be a trigger for the markets to go to the levels of 5350-5400, says Ambareesh Baliga of Way2Wealth on CNBC TV18. There will be some profit booking at levels of 5050-5100 and we could see a small correction which surely will be bought into, but it will not get sold into like what we have seen in the last couple of months, he adds. He believes that sentiment is better, so over the longer term of next two-three months, the market could go to around 5300-5400.

  • If the Nifty is able to cross 5020 then it could go up to 5070, says Pradeep Surekha, technical analyst, on Zee Business. Agressive traders can go short with a stop loss of 5020, he adds.

  • The structure of the market is still positive and the upmove is intact with sound support for the Nifty at 4930, says Prakash Gaba, technical analyst, on Zee Business. The first target would be 5065, he adds.

NIFTY 3-Month