Markets closed near the days high on volatile session :: HDFC Securities

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Statistics

The 30-share Sensex ended up 184 points at 27,458 and the 50-share Nifty gained 50 points to close at 8,284. The broader markets were flat. The midcap index was almost unchanged while the smallcap index edged up by a marginal 0.1%. NSE cash turnover was at Rs. 19130.

Sectors & Stocks

BSE IT index surged over 3.5% followed by counters like Oil and Gas, Consumer Durables, TECk and Healthcare, all gaining between 1-2%. On the losing side were sectors like Realty which dipped by 1.4% followed by counters like Power, Metal, Capital Goods and Banks, all down 0.3-0.9% each. Infosys, Tata Consultancy Services (TCS), Wipro, Tech Mahindra, Persistent Systems, MindTree, Hexaware Technologies and CMC rallied between 1.5-5% Wockhardt, Cadila Healthcare, Cipla, IPCA Labs, Dr Reddy?s Labs, Torrent Pharma, Sun Pharma and Divis Labs gained between 1.5-4.5%. NTPC, Bajaj Auto, ICICI Bank, ITC, Sesa Sterlite and Axis Bank dropped between 1-3.3% each.

Australian shares added 1.6%, while the Shanghai Composite Index gained 2% and Hong Kong's Hang Seng index advanced 1.2%. Japan's Nikkei was up 0.1% after giving back earlier gains.

Way forward

Nifty closed up by 0.61%  in a volatile session. From last 3 session Nifty is making higher top higher bottom formation. If  in coming session Nifty sustains  above 8240 level then traders could expect  Nifty to trade up to 8325 level followed by 8375. If Nifty  trades & sustains below 8240 level for 15 mins  then traders could expect down move up to 8200 followed by 8125 level.