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Market Report

Thursday, 07-June-2012


  • The markets closed with significant gains today with realty, banking, auto and FMCG being the best performers. Other sectors with substantial gains included power, metal and capital goods while consumer durables was the only sector that closed negative. The Sensex closed at 16649, up 195 points from its previous close, and the Nifty shut shop at 5050, up 53 points.

  • The top Nifty gainers today were JP Associates, Axis Bank, ICICI Bank and HDFC Bank while the biggest losers included Wipro, Power Grid, Ambuja Cements and GAIL.

  • In the short term, we could see profit booking at 5060-5065, says Dharmesh Shah of ICICI Direct on Zee Business.

  • Till the support of 4850 holds, the upmove in the market will remain intact, says Prakash Gaba, technical analyst, on Zee Business. In this rally, the market could go up to 5100-5150 so buy on dips, he adds.

  • Hold existing positions in Nifty with a stop loss of 4960 but fresh buying should be above 5060 only, says Dharmesh Kant of India Nivesh Securities on CNBC Awaaz.

  • Buy Nifty on dips to 5025-5015 with an intra-day target of 5100 and stop loss of 4980, says Manas Jaiswal, technical analyst, on CNBC Awaaz.

  • There is still some upside left and in this leg of the rally, we could move up to 5200, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month