Just
when it seemed that the Bulls had thrown in the towel, market staged a smart
recovery to help Nifty reclaim 7200. As expected, Market took support at the
200WMA and bounced back. We are witnessing a Corrective rally which seems headed towards
Resistance zone of 7323-7363. One should not confuse this rally as
a reversal of trend as it is
only a pull-back rally, which has its genesis in short covering and not fresh
buying. Hence there are very bright chances that this rally will be sold into and
Nifty may slip well below 7000 again. The Indian equity
market has rallied for the fourth consecutive sessions. Finally Sensex ended with a gain of 80 points at
23,789. The Sensex opened at 23,783,
touched an intra-day high of 23,855 and low of 23,675.The Nifty closed with a gain of 25 points at
7,236. The Nifty opened at 7,209 hitting
a high of 7,252 and low of 7,201.
TOP GAINERS:
HUL, BOSCH, UltraTech Cement, ZEEL, Sun Pharmaceuticals, RIL,
Dr.Reddy's, Asian Paints, Grasim Industries and ONGC
TOP LOSERS:
Tech Mahindra, NTPC, GAIL, ITC, Maruti Suzuki, Adani Ports and Power
Grid 
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