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Market Report

Monday, 30-Apr-2012


  • The markets made substantial gains today and barring FMCG and consumer durables, all sectoral indices closed positive. IT, tech, oil & gas and realty were the best performers in today's session and metal and power, too, supported the indices well. The Sensex closed at 17319, up 131 points from its previous close, and Nifty shut shop at 5248, up 39 points.

  • The top Nifty gainers today were TCS, Jindal Steel, Power Grid and Hero MotoCorp while the biggest losers included BHEL, Maruti Suzuki, Axis Bank and Dr Reddy's.

  • As long as 5080 does not break, the bias of the market will remain positive, says Anil Manghnani of Modern Shares and Stockbrokers on Zee Business. The level of 5250-5280 is key decisive break-out range, he adds.

  • There is a bullish divergence visible on the Nifty with crucial support at 5180-5160, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. Key pivot level is 5343, reversal point being 5129.40, he adds. Hold long positions with a target of 5340 and stop loss of 5135, he advises.

  • The short-to-medium term bias of the market is negative, says Somil Mehta of Sharekhan on CNBC Awaaz. Sell Nifty with targets of 5000 and 4900 and stop loss of 5270, he advises.

  • The short-term bias of the market is positive but it is still going to be a rangebound market, says Mitesh Thacker, technical analyst, on ET Now. Support for the Nifty is seen at 5180-5145 and it could try to test 5260-5275, he adds.

NIFTY 3-Month