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Market Report

Tuesday, 24-July-2012

NSE

  • The markets closed with moderate gains today with FMCG, IT and metal being the lead gainers. Banking, capital goods, realty and power lost significantly. The Sensex closed at 16918, up 41 points from its previous close, and the Nifty shut shop at 5128, up 10 points.

  • The top Nifty gainers today were HUL, Ranbaxy, Sterlite Industries and Maruti Suzuki while the biggest losers included Wipro, SAIL, L&T and Kotak Mahindra Bank.

  • Sell Nifty at 5200 with a target of 5080-5050, says Azim Ahmed of ICICI Securities on Zee Business. The market is likely to continue to trade rangebound, between 5000 and 5300, he adds.

  • There is a crucial gap for the Nifty at 5164 and 5169, says Sarvendra Srivastav, technical analyst, on NDTV Profit. Market may test 5050-5000 levels, he adds.

  • There is stiff resistance for the Nifty at 5200 and it could fall to 5150 and then 5050, says Shardul Kulkarni of Angel Broking on Zee Business.

  • There is stiff resistance at 5180 and all rallies to this level should be used to sell into, says Mitesh Thacker, technical analyst, on ET Now. If 5100 is breached, then we could test 4980-4950, he adds.

  • We are likely to stay in 5050-5190 range before falling to 4800-4700, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month