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Market Report

Thursday, 23-Feb-2012


  • The markets traded rangebound today with both benchmark indices closing with moderate losses. February Futures series expired on a bullish note though, with both benchmark indices gaining around 6%. Realty and metal were the worst performers in today's session while support came from FMCG, power and oil & gas. The Sensex closed at 18078, down 67 points from its previous close, and the Nifty shut shop at 5483, down 22 points.

  • The top Nifty gainers today were BPCL, HUL, Power Grid and BHEL while the biggest losers included JP Associates, Sterlite Industries, Sesa Goa and PNB.

  • We are entitled to some correction but I do not see the Nifty below 5380, says Sarvendra Srivastav, independent market analyst, on NDTV Profit.

  • Today, the Nifty needed to remain above 5541 in order to stay positive, says Ashwani Gujral, technical analyst, on ET Now. We are in some kind of a correction with supports at 5454 and 5403 and resistances at 5592 and then 5679, he adds.

  • We could trade with a downward bias for the next few days with the daily charts showing some consolidation, says Mitesh Thacker, technical analyst, on ET Now. There is sound support for the Nifty at 5450-5420 but if this is breached then we could go down to 5350-5330, he adds.

NIFTY 3-Month