Banking, realty, capital goods and auto were the biggest gainers in today's session and consumer durables, power and metal, too, made significant gains. Healthcare was the only sector that closed in the negative.
The market breadth was positive with advances at 753 against declines of 659 on the NSE. The top Nifty gainers were Ambuja Cements, PNB, ACC, and Tata Motors while losers included Wipro, Dr. Reddys, Ranbaxy and Hind Lever.
Technical Analysis: The Sensex closed at 16863, up 195 points from its previous close, and the Nifty shut shop at 5116, up 62 points. On the higher side 5150 and 5200 will be strong resistance levels while on the lower side 5100 and 5050 will be strong support levels.
Suggested Strategy: The markets seem to be in a short uptrend. Ride the trend and keep booking profits at higher levels. Lower levels may be used to pick up fundamentally strong shares for portfolio gains in the medium to long term
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