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Market Report

Monday, 18-June-2012

NSE

  • It was a disappointing start to the week for the Indian market which opened gap-up but fell sharply after the RBI announced its decision to keep Repo Rate and CRR unchanged. Rate-sensitives saw unwinding pressure with banks, real estate and auto sectors dragging the indices down. Volumes were extremely high in terms of turnover. Sensex shut shop at 16705, down 244 points and Nifty at 5064, down 74 points from the previous close.

  • Top Nifty gainers today included Power Grid, Tata Steel and Bajaj Auto while losers included DLF, SBI and PNB.

  • Buy 5100 Put at Rs 79, sell 5000 Put at Rs 42 and sell 4900 Put at Rs 22, says CK Narayan, market analyst, on ET Now.

  • If the market is able to cross the range of 5180-5220 then we could see a good rally, says Jagannadham Thunuguntla of SMC Global on CNBC Awaaz. Upside now is capped at 5180, he adds.

  • The Nifty could see a test of the 200 DEMA yet again with 5150 acting as crucial pivot for the week, says Sarvendra Srivastav, independent technical analyst, on NDTV Profit. A convincing breakout will change the long-term picture, he adds.

  • This week, the Nifty is likely to trade in the range of 5100 and 5350, says Sandeep Wagle of Aptart India on ET now. We could see a decline of 70-80 points but that would be a buying opportunity, he adds.

NIFTY 3-Month