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Market Report

Tuesday, 27-Mar-2012


  • After the government's clarification on the taxation of FII inflows through the Mauritius route, the markets bounced back handsomely and closed with robust gains. The Nifty crossed its psychologically important level of 5200. Consumer durables, FMCG, realty and metal were the best performers in today's session and barring power, all sectoral indices closed positive. The Sensex closed at 17257, up 205 points from its previous close, and the Nifty shut shop at 5243, up 59 points.

  • The top Nifty gainers today were DLF, Cipla, Sesa Goa and Sterlite Industries while the biggest losers included Maruti Suzuki, JP Associates, HCL Tech and Grasim.

  • The short-term set up is hinting at Nifty reversals, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. There is crucial support for the Nifty at 5150-5160, he adds.

  • A key level for the Nifty now is 5180, says Rajesh Satpute, technical analyst, on Zee Business. If the resistance of 5260 is crossed then we could move up to 5300, he adds.

  • An important support for the Nifty is 5100 and the market is likely to expire at 5400-5450, says Azim Ahmed of ICICI Direct on Zee Business. If the Nifty goes above 5295 then we could see some good short covering for two sessions, he adds. He advises buying with a target of 5400-5450 and stop loss of 5200.

  • The trend of the market will remain down in the short term until the Nifty is able to close above 5311, says Ashwani Gujral, technical analyst, on ET Now.

  • If the Nifty closes above 5350 then the trend for the short term would change, says Sudarshan Sukhani, technical analyst, on CNBC TV18. He believes that these small rallies in between dips are not good news for the bulls.

NIFTY 3-Month