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Market Report

Monday, 27-Aug-2012


  • The markets closed with moderate losses today with realty, banking and capital goods being the biggest losers. The Sensex closed at 17679, down 104 points from its previous close, and the Nifty shut shop at 5350, down 36 points. The CNX Midcap index was down 0.8% while the BSE Smallcap index lost 1% in today's trade. The market breadth was negative with advances at 418 against declines of 1021 on the NSE.

  • Market is waiting for some trigger before going up, says PK Agarwal of Purpleline Investment on Zee Business. Unless that happens, it will remain rangebound till expiry, he adds. Strategy should be to buy on dips and sell on rally, he says.

  • Next few sessions are important for the market with key reversal or support for Nifty at 5341, says Sarvendra Srivastav, technical analyst, on NDTV Profit. Continue to hold long positions in the Nifty, he adds.

  • Till the Nifty does not cross 5450, we should not expect a big upmove, says Anil Manghnani of Modern Shares and Stockbrokers on Zee Business. It has strong support at 5350-5340, he adds.

  • Buy only on declines and not if market goes up, says Sudarshan Sukhani, technical analyst, on CNBC TV18.

NIFTY 3-Month