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Market Report

Thursday, 18-July-2013

NSE

  • The Sensex, which had gained 98 points in the previous session, spurted by 179.68 points, or +0.90 per cent to end at 20,128.41, its highest level since May 30. On similar lines, the broad-based National Stock Exchange index Nifty rose by 64.74 points, or +1.08 per cent to close at 6,038.05 today helped by fag-end buying led by realty, banking and consumer durables shares, amid a firming global trend.

  • Brokers said markets remained bullish on steady inflow of better quarter earnings by bluechips led Infosys. Banks are showing signs of short term reversal after it dived for two straight sessions. Experts said a firming Asian trend and higher opening in Europe after US Federal Reserve chief Ben Bernanke stated the bank had no plan to wind down its stimulus until the economy was back on track, further influenced sentiments here.

  • In the global area, Japan's Nikkei share average rose 1.3% to a new eight-week high on Thursday as the dollar traded above 100 yen after the US Fed remarks. European shares traded mixed as per last report.

  • 6120-6150 is the next target, says Mitesh Thacker. We have filled the gap which was opened after the RBI announcement so that is a positive. I am not very keen to buy aggressively on to the index at least though individual stocks do offer good buying opportunities, he adds.

  • Look for levels around 6100-6200, says Ashwani Gujral. As far as the Bank Nifty is concerned the value zone where you can go short is probably in this area between 11350 to right up to 11600. Overall there is nothing much to be said for the market other than it is pulling in both directions, he said.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)