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Market Report

Friday, 27-July-2012

NSE

  • The markets closed with significant gains today with metal, FMCG and IT being the lead gainers. Auto and banking, too, gained significantly while realty, capital goods and healthcare closed with moderate declines. The Sensex closed at 16839, up 199 points from its previous close, and the Nifty shut shop at 5100, up 57 points.

  • The top Nifty gainers today were Sterlite Industries, Tata Steel, Tata Motors and HDFC Bank while the biggest losers included PNB, SBI, Bank of Baroda and JP Associates.

  • The markets lost significantly during the week with FMCG being the only sector that managed to close positive. The Sensex was down 2% and Nifty lost 2.1% over the week. The CNX Midcap index closed with 4.6% loss, BSE Smallcap lost 4.8% while the Bank Nifty closed with 3.4% loss.

  • Nifty is near the lower end of the June range at 5050 with strong resistance at 5200-5250, says Sarvendra Srivastav, technical analyst, on NDTV Profit. Prices are down to fortnightly support, he adds.

  • We expect the market to trade in the range of 5000-5350 for the August series, says Dharmesh Shah of ICICI Securities on Zee Business.

  • Avoid long positions in the Nifty which has resistance at 5126-5130, says Simi Bhaumik, technical analyst, on CNBC Awaaz. Buy only on dips with a stop loss of 5090, she adds.

  • Sell Nifty with a target of 4995 and stop loss of 5150, says Prakash Gaba, technical analyst, on Zee Business.

  • Till the Nifty does not cross 5150-5175, the market will remain under pressure, says Mitesh Thacker, technical analyst, on ET Now. Action should be more stock specific, he adds.

  • The Nifty needs to trade above 5067 for market sentiments to be positive, says Ashwani Gujral, technical analyst, on ET Now. There is resistance at 5102 and 5167 with support coming in at 5008 and 4703, he adds.

NIFTY 3-Month