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Main » 2011 » January » 18
MUMBAI:
Benchmarks ended rangebound session near day’s highs as investors
bought stocks at lower levels after a sharp decline in past few
sessions. Positive cues from European markets also lifted sentiments. Indices
opened on a firm note and gained momentum towards end of trade after a
rangebound session. The upmove was led by gains in technology, metals
and pharmaceutical stocks while oil&gas space ended with marginal
losses. According to analysts, market is expected to drift lower in
coming session and pull-back rally must be used to book profits.
"Market is rangebound with a downward bias and is flirting
with support levels. It will take cues from earnings season and other
global news for further direction. However, it can extend its range
towards lower levels. Nifty support is seen at
5400-5500 levels while resistance seen is at 6000 levels. Keep exiting
long positions in case of a pull-back rally,” said Miki Jain,
independent technical analyst. National
Stock Exchange’s Nifty ended at 5724.05, up 69.30 points or 1.23 per
cent. The broader index touched a low of 5671.25 and high of 5730.50
intraday.
Bombay Stock Exchange’s Sensex closed
at 19092.05, up 209.80 points or 1.11 per cen
...
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Views: 720 |
Added by: gopalbagani |
Date: 18 January 2011
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