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Market Report

Wednesday, 25-Jan-2012

NSE

  • The markets came down from the highs of the day to close with only moderate gains. The Sensex and the Nifty closed above their psychologically important levels of 17,000 and 5150, respectively. Metal and Tech were biggest gainers in today's session while capital goods lost moderately. The Sensex closed at 17077, up 81 points from its previous close, and the Nifty shut shop at 5158, up 31 points.

  • The top Nifty gainers today were Reliance Infra, Sesa Goa, BPCL and Tata Motors while the biggest losers included Hero MotoCorp, Jindal Steel, Tata Power and L & T.

  • Overall, the trend is positive and I see a target of 5230 going ahead, says Somil Mehta of Sharekhan on Zee Business. He is bullish on banks, metals and realty and advises buying into these sectors on declines.

  • The undertone clearly remains bullish though we could see a couple of days of consolidation, says Mitsh Thacker, technical analyst, on ET Now. Profit booking could come in at higher levels but the trend is clearly on the upside, he adds. An important supply zone would be 5205-5210, he says.

  • If this breakout is real then we could see a rally of 500-600 points and could even move up to 5700-5800, says Sudarshan Sukhani, technical analyst, on CNBC TV18. So at 5175 it would be a good idea to go long for positional trades, he adds.

NIFTY 3-Month