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Market Report

Friday, 27-Mar-2015


  • The Sensex ended the day at 27,458.64 up 1.06 points, or +0.00 percent. The 30-stock index had opened on a very positive note, surging almost 300 points; but the euphoria died out in seconds. The broader 50-share Nifty closed at 8,341.40 today, down 0.75 points or -1.01 per cent.

  • The indexes ended the day on a flat note with war clouds over Yemen and absence for fresh triggers keeping the bulls on the back foot. Markets ended so flat that one index was in the positive while the other was in the negative today, amid a volatile trading session, led by Infosys and a rebound in bank shares even as select index heavyweights capped upside gains.

  • Don't hit the panic button; 8,450-8,480 levels crucial for Nifty, says Sandeep Wagle. I had been talking of 8,300-8,250 targets for Nifty. The said levels have been achieved now. I am still not sure whether we have made a bottom. I have no answer to whether we will go up one way. Better, we wait and watch. We may need some clarity. If Nifty trades above the levels of 8,450-8,480 on a sustainable basis next week, then it should be considered as a positive sign, he says.

  • Markets may turn sideways before seeing any rebound, says Ashwani Gujral. Trends change when the selling is all done. In the currenct scenario, this would be known once the market starts moving sideways for a couple of days instead of inching lower. In addition, the trend will reverse on the upside only when there are some positive macro triggers. It could be a positive outcome by the RBI policy review on April 7, or Infosys results -- something which encourages bears to cover shorts. Without that, even if the ongoing selling is halted, chances are higher that we will settle at a lower range and move sideways first. Maybe that range has already begun, he says.

NIFTY 3-Month

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