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Market Report

Monday, 02-July-2012


  • The markets traded rangebound throughout the day and closed flat. Realty, consumer durables, capital goods and banking were the biggest gainers in today's session while FMCG and auto were the biggest losers. The Sensex closed at 17399, down 31 points from its previous close, and the Nifty shut shop at 5279, no change.

  • The top Nifty gainers today were ACC, DLF, Grasim and HDFC Bank while the biggest losers included ITC, Jindal Steel, Hero MotoCorp and Tata Motors.

  • If the Nifty trades above 5190 for the next three trading sessions, then we may see this rally extend up to 5400, says Amit Harchekar of IIFL on Zee Business. Sentiments have turned positive but we are still cautious on the market, he adds.

  • The Nifty is likely to stay rangebound in July series, between 5150 and 5450, says SP Tulsian, market analyst, on CNBC Awaaz. Bad monsoon is likely to be a big worry for the markets, he adds.

  • Now the upside could extend till 5400-5450 with strong support at 5190-5200, says Sarvendra Srivastav, technical analyst, on NDTV Profit. Banking and capital goods sectors are looking positive, he adds.

  • The bias of the market is now positive and the target on the upside is 5450-5470, says Mitesh Thacker, technical analyst, on ET Now. For the next few days, one should trade aggressively on the long side, he adds.

  • Hold long positions in the Nifty with a target of 5400-5450 and stop loss of 5200, says Ashwani Gujral, technical analyst, on ET Now. The Nifty needs to trade above 5251 for the market sentiments to remain positive, he adds.

NIFTY 3-Month