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Market Report

Wednesday, 11-Apr-2012

NSE

  • Positive opening of Europe provided support to the Indian markets and both benchmark indices closed with only moderate declines. Even earthquake in Indonesia and consequent warning of tsunami could not douse the sentiments completely. Healthcare, IT and banking were the biggest gainers in today's trade while metal, capital goods and oil & gas tried to pull the indices down. The Sensex closed at 17199, down 44 points from its previous close, and the Nifty shut shop at 5227, down 17 points.

  • The top Nifty gainers today were Kotak Mahindra Bank, Sun Pharma, Infosys and NTPC while the biggest losers included ACC, Ambuja Cements, Reliance Infra and JP Associates.

  • An important support for the market now is 5150 and as long as it stays above this level then trade will be rangebound, says Kunal Saraogi, technical analyst, on Zee Business. Buy at current levels with a stop loss of 5150, he adds.

  • The market is likely to breach 5160 on the downside and fall to 5050-5000 at which level one could buy with a long-term view, says Ambareesh Baliga of Way2Wealth on Zee Business. Otherwise, avoid long trades at this point, he adds.

  • The trend of the market is down and the downside targets on the Nifty remain 5150 and then even 4900-4800, says Sudarshan Sukhani, technical analyst, on CNBC TV18.

NIFTY 3-Month