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Market Report

Monday, 21-May-2012

NSE

  • It was a quiet end to a choppy session despite a strong opening since the market gave up all its gains as trade progressed amid negative global cues and weakness in Indian rupee. IT came in for a bit of short-selling but capital goods, banks and realty were positive. Sensex shut shop at 16183, up 30 points and Nifty at 4906, up 14 points from the previous close.

  • Top Nifty gainers today were Tata Power, Bank of Baroda and Reliance Infrastructure while losers included Wipro, ITC and Infosys.

  • The market is at a good point to enter at current levels, says Prakash Diwan of Asit C Mehta on ET Now.

  • If the Bank Nifty holds 9300 levels, then the Nifty is likely to move up to 4950-5000, says Azim Ahmed of ICICI Direct on Zee Business. He is bullish on banking stocks but negative on autos.

  • The market may be bottoming out now and the strategy should be to buy on dips rather than to sell rallies, says Sudarshan Sukhani, technical analyst, on CNBC TV18.

  • This is a week in which I would buy on every decline with an initital target of 4930-4950 and then even 5000, says Mitesh Thacker, technical analyst, on ET Now. He sees 4840 as an important level.

NIFTY 3-Month