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Market Report

Wednesday, 23-May-2012


  • The Indian market pared losses in afternoon trade but ended lower in a session marked by volatility amidst the rupee touching a record low and global concerns over EU summit. Sensex shut shop at 15948, down 78 points, and Nifty at 4835, down 24 points from the previous close.

  • Top Nifty gainers today were GAIL, Ranbaxy and IDFC while losers included Bharti Airtel, Kotak Mahindra Bank and Sesa Goa.

  • If the Nifty is able to hold 4800-4775 then it could bounce back to 4875-4890, says Rakesh Gandhi of LKP Shares on Zee Business. If it breaches 4800-4775 then further weakness will come in, he adds.

  • If 4810-4820 holds then go long with a target of 4850-4890, says Dharmesh Shah of ICICI Direct on Zee Business.

  • If the Nifty breaches the 4788 level then it could fall to 4650, says Sarvendra Srivastav, independent market analyst, on NDTV Profit.

  • The market is expected to remain choppy for the next few days, says Mitesh Thacker, technical analyst, on ET Now. If the Nifty moves up to 4900 then create short positions with a target of 4800-4780, he adds.

NIFTY 3-Month