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Market Report

Wednesday, 15-Feb-2012

NSE

  • The markets closed with significant gains today with both benchmark indices closing above their psychologically important levels of 18,000 and 5,500, respectively. Realty, capital goods, banking, auto and power led the rally while metal and consumer durables, too, made substantial gains. Oil & gas was the only sector that closed negative. The Sensex closed at 18202, up 354 points from its previous close, and the Nifty shut shop at 5532, up 116 points.

  • The top Nifty gainers today were Reliance Power, JP Associates, Tata Motors and Axis Bank while the biggest losers included RIL, HUL, Cipla and Cairn India.

  • The momentum of the market is strong so do not create shorts, says Shardul Kulkarni of Angel Broking on CNBC Awaaz. Hold long positions with a stop loss of 5320, he adds.

  • We have broken out of the trading range of the past few days and after the Nifty has crossed 5450-5460 it will pick up momentum and then we could see a 150-point upmove with a target of 5600-5640, says Mitesh Thacker, technical analyst, on ET Now.

  • The market is likely to open at 5480-5490 and then some profit book could bring in down to 5440-5420 at which level one could go long with a short-term target of 5550-5600 and stop loss of 5420, says Dharmesh Shah of ICICI Direct on Zee Business.

NIFTY 3-Month