IntradayTrade dot Net
Market Report

Thursday, 24-May-2012


  • The markets made robust gains today with banking and oil & gas leading the rally. Technology, metal and auto stocks, too, closed with significant gains. FMCG and consumer durables were the only two sectors that closed with moderate gains. The Sensex closed at 16222, up 274 points from its previous close, and the Nifty shut shop at 4921, up 86 points.

  • The top Nifty gainers today were ONGC, Bharti Airtel, Bank of Baroda and Ranbaxy while the biggest losers included JP Associates, Cairn India, Maruti Suzuki and HUL.

  • Till the Nifty does not cross 4950 and sustains above it, all rallies will be short lived, says Azim Ahmed of ICICI Direct on Zee Business.

  • The trend for the moment is on the upside and if Nifty moves to 4950 then create fresh shorts, says Ashwani Gujral, technical analyst, on ET Now.

  • As long as the market stays in a 150-point band, it should be a no-trade zone, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Take a call above 4950 or below 4800, he adds.

NIFTY 3-Month