Stock's Talk: Indian Stock Market BSE NSE

The markets were cheerful since the morning, thanks to the UPA winning the trust vote, cooling crude oil price and positive cues from global markets. But it gained more strength by afternoon and closed strong. Sensex ended the day at 14,942, up 838 points from the previous close. Nifty shut shop at 4476, up 236 points. CNX Midcap and BSE Smallcap indices gained 6.1% and 4.2% respectively. Buying was across the board, but banking, realty, capital goods and power stocks were the heroes for the day. Top Sensex gainers include Reliance Communications, ICICI Bank, HDFC, SBI and BHEL, while losers were Cipla and HUL.

If global cues remain neutral to positive tommorrow, then one may see the Nifty move up to 4600-4650, says Vijay Bhambwani, technical analyst, on CNBC-TV18. But it will face strong resistance there, he adds.

There's more upside in Reliance Capital, says E Mathew, technical analyst, on CNBC Awaaz. It has another Rs 50-60 upmove left from here, he adds. The stock is at Rs 1,346, up over 14% on the BSE.

IFCI may go up to Rs 65 in the current pullback, says E Mathew, technical analyst, on CNBC Awaaz. But only if it crosses this, can one say it is more than just a pullback rally for the stock, he adds. It is at Rs 45.75, up 12.3% on the BSE.

SBI has another Rs 175-250 upside left from the current levels, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. The stock is at Rs 1,548 on the BSE.

ICICI Bank will have resistance in the Rs 702-751 zone, says E Mathew, technical analyst, on CNBC Awaaz. So look to book profits here, he suggests. The stock is at Rs 740.10, up 11.9% on the BSE.

The market had a fantastic day today, as key indices ended close to the day's high! Sensex ended the day at 14,959, up 855 points (provisional) from the previous close. Nifty shut shop at 4481, up 240 points (provisional).

Partial profit booking is advised on the Nifty, says Rajat Bose, technical analyst, as market closing strategy, on CNBC-TV18. Stoploss for the rest of the holdings should be at 4420, he adds.

Hold Nifty Longs with a target of 4650, says E Mathew, technical analyst, as market closing strategy, on CNBC-TV18. Buy Syndicate Bank on declines for short term trading, he adds.

SBI is now heading towards the resistance of Rs 1,580, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1,543, up 10.5% on the BSE.

In FMCG, one is not borrowing and paying EMIs, therefore, FMCG companies may not be hit, says Devesh Kumar, MD of Centrum Capital, on CNBC-TV18. And in inflationary situations, FMCG companies do better, he adds. So selectively, one can buy FMCG companies, he suggests.

The market is seeing a good run up today. Sensex is up 846 points from the previous close, at 14,950. It is the highest intra-day gain for the Sensex since March 25, 2008. Nifty is at 4479, up 239 points. Market breadth is very strong, with 1,181 advances against just 100 declines on the NSE