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Markets Today
The trend deciding level for the day is 20358 / 6090 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20442 – 20495 / 6118 - 6134 levels. However, if NIFTY
trades below 20358 / 6090 levels for the first half-an-hour of trade then it may
correct up to 20305 – 20221 / 6074 - 6046 levels
Dealer’s Diary
The benchmark indices witnessed a gainful second straight session on F&O
expiry day. Markets opened in green, even as US markets closed flat overnight,
while Asian markets were trading weak in the morning. However, markets
witnessed choppy trading patterns early on and began to slide down by
afternoon. Markets revived by end of the mid-session but witnessed sharp
gyrations before closing above their 1½-month highs. The markets also ignored
negative news flow of a surge in inflation in mid-December 2010. The Sensex
and Nifty ended the session with gains of 0.7% each. The BSE mid-cap and
small-cap indices also closed with gains of 0.7% and 0.4%, respectively. Among
the front liners, NTPC, Hero Honda, Tata Motors, Tata Power and Sterlite
Industries gained 2%, while HDFC Bank, ONGC, Bajaj Auto, RCOM and SBI
lost 0–1%. Among mid-caps, Rajesh Exports, Ruchi Soya, Dredging Corp., Aban
Offshore and IB Real Estate gained 6–10%, while Shree Ashtavinayak, Man
Infra, MVL, Sunteck Realty and Polaris lost 2–5%.
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