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Market Report

Thursday, 09-Feb-2012

NSE

  • The markets made smart gains today with the Nifty closing above its psychologically important level of 5400. Metal, realty, banking and auto were the best performers while oil & gas and capital goods remained the biggest laggards in today's session. The Sensex closed at 17831, up 123 points from its previous close, and the Nifty shut shop at 5412, up 44 points.

  • The top Nifty gainers today were Reliance Power, BPCL, Tata Power and Jindal Steel while the biggest losers included Sun Pharma, DLF, Grasim and Hindalco.

  • If the Nifty breaks on either side then we could see a move of 150 points, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. An important support is at 5330-5320 with a medium-term target of 6000-6050, he adds. He advises holding on to buy trades on the Nifty.

  • We are seeing tiredness on intra-day charts and the indices have moved into a well-defined range, says Mitesh Thacker, technical analyst, on ET Now. If the Nifty breaks below 5320 in the short term then it could go down to 5250 and even 5185, he adds.

NIFTY 3-Month