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Market Report

Thursday, 16-Aug-2012


  • The markets traded in a narrow range today and closed with moderate declines. FMCG, metal, consumer durables and banking were the biggest laggards in today's session while capital goods, oil & gas and auto gained significantly. The Sensex closed at 17657, down 71 points from its previous close, and the Nifty shut shop at 5363, down 17 points.

  • The top Nifty gainers today were IDFC, Hero MotoCorp, Ranbaxy and Mahindra & Mahindra while the biggest losers included ITC, Sterlite Industries, Hindalco and Sesa Goa.

  • Nifty is at its crucial pivot levels and prices near two-year high, says Sarvendra Srivastav, technical analyst, on NDTV Profit. The next two sessions will be crucial for the Nifty, he adds.

  • Bias of the market is on the upside with target on Nifty at 5550-5580, says Mitesh Thacker, technical analyst, on ET Now. There is strong support at 5310, he adds.

  • This week, the Nifty could move up to 5450-5485, says Abhijeet Paul, technical analyst, on Zee Business. If it falls below 5350-5300 then the market would again turn rangebound, he adds.

  • Hold long positions with a target of 5460-5500 and trailing stop loss of 5300, says Ashwani Gujral, technical analyst, on ET Now.

  • The trend of the market is on the upside with target on Nifty at 5600 plus, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Traders should be on the long side, he adds.

NIFTY 3-Month