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Market Report

Tuesday, 15-May-2012


  • Taking cues from European markets, both benchmark indices made substantial gains today with capital goods, metal and IT being the lead gainers. Healthcare, banking, infrastructure and fertilizer stocks, too, supported the indices well. The Sensex closed at 16328, up 112 points from its previous close, and the Nifty shut shop at 4943, up 35 points.

  • The top Nifty gainers today were Sesa Goa, L & T, Cairn India and Sun Pharma while the biggest losers included NTPC, Maruti Suzuki, IDFC and ITC.

  • Buying equities is proving to be painful but we believe that, unless the world spins into another crisis, it is difficult to imagine Indian equities going substantially lower, says Ridham Desai of Morgan Stanley on CNBC TV18.

  • The market is likely to open 30-40 points down and any pullback between 4910-4940 should be used to go short with a target of 4750 and stop loss of 4960, says Sandeep Wagle of Aptart India on ET Now.

  • The level of 5040-5050 remains strong resistance so use rallies to sell into with a target of 4700-4650, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. More downside is visible in the market, he adds.

NIFTY 3-Month