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Market Report

Monday, 23-Jan-2012

NSE

  • It was a flat closing in the markets today with oil & gas and metal being the biggest laggards in today's session. Realty, tech, capital goods and FMCG provided support to the markets and auto and banking, too, played their roles in holding the markets intact. The Sensex closed at 16752, up 13 points from its previous close, and the Nifty shut shop at 5046, down 2 points.

  • The top Nifty gainers today were Maruti Suzuki, BHEL, DLF and Bharti Airtel while the biggest losers included Sterlite Industries, Hindalco, Hero MotoCorp and Kotak Mahindra Bank.

  • All eyes will be on the RBI policy review, markets continue to expect some sort of a rate signal, says Nandan Chakraborty of Enam on CNBC TV18. However, we believe that the RBI may refrain from cutting rates just yet due to high core inflation, he adds. Given the liquidity backdrop, it will be interesting to see if the RBI continues to prefer only open market operations to ease the severe liquidity crunch, he says.

  • The direction of the market will depend on the RBI Credit Policy tomorrow and it could either go up or stay sideways, says D Prasad, technical analyst, on Zee Business. If the Nifty crosses 5070 then the uptrend will resume but below 5025 we could fall to 4950, he adds.

  • The bias for the next three trading sessions would not be long, says Sudarshan Sukhani, technical analyst, on CNBC TV18. I would take short positions by buying Puts, he adds.

  • The market might take a pause here, consolidate and then move up, says Mitesh Thacker, technical analyst, on ET Now. An important supply area would be 5050-5100 and from here we could see a small dip of 70-80 points, he adds. There would be sound support at 5000-5010, he says.

NIFTY 3-Month