The markets closed with marginal gains yesterday with IT, tech, realty and metal being the lead gainers. Power, auto and oil & gas, too, gained marginally while FMCG, consumer durables and heath care lost substantially.
The market breadth was positive with advances at 726 against declines of 673 on the NSE. The top Nifty gainers were HCL Tech, Cairn India, Wipro and Coal India, while the losers included ACC, BPCL, IDFC and SAIL.
Technical Analysis: The Sensex closed at 16439, up 22 points from its previous close, and the Nifty shut shop at 4990, up 4 points. On the higher side Nifty 5000 and 5050 will be the strong resistance levels while on the lower side 4950 and 4900 will be the strong support levels.
Suggested Strategy: The markets are indecisive with a positive bias for the next few sessions. The markets needs to be monitored on a daily if not hourly basis. Higher levels may be utilized to book profits. Lower levels may be used to acquire quality stocks to build a solid portfolio.
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