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Market Report

Tuesday, 21-Aug-2012

NSE

  • It was a good day of trade on Dalal Street as the Nifty managed to cross its resistance of 5400 and give a closing above it, for the first time since March 16. Banks, IT, cements and power stocks saw strong buying interest. Sensex shut shop at 17885, up 194 points and Nifty at 5421, up 54 points from the previous close.

  • Top Nifty gainers today were Sterlite Industries, DLF and Sesa Goa while losers included Bharti Airtel, Cairn India and PNB.

  • If the market closes below Nifty 5290, then there is a possibility that the market will come down to Nifty 4900, and then rally back one more time closer to 5300, says Jai Bala of cashthechaos.com on CNBC TV18.

  • If Nifty breaches 5340 then it could go down to 5170-5160, says Amit Harchekar of IIFL on Zee Business. There is stiff resistance at 5420, he adds.

  • If Nifty crosses its resistance of 5450, it may move to 5500-5550, says D Prasad, technical analyst, on Zee Business. Buy on dips to 5350, he advises.

  • For the week, key levels for the Bank Nifty is 10417 and for CNX IT it is 5950, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month