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Posted by Shyam as Market News
It was a good rally in the Indian share markets today. The Asian markets were a great support to the Indian markets. Yesterday the US markets closed in deep red.So the Indian markets were expected to open down.But the Indian markets never went below yesterdays close even once.Sensex closed 492 points up at 9655 levels and nifty closed at 2928 levels up by 144 points.
It marked almost 5% + rise in the markets today. The auto sector bailout news from USA was also a positive sign coming in. Most likely we will see a positive opening in the US markets today.DLF,RCom,M&M,Tata Steel gained heavily today. The overall market breadth wasup with 1530 advances against 883 declines.
Sensex will face resistance at 10,000 levels and nifty at 3000 levels for sure. So in the coming days keep booking profits at higher levels.Any time we can see the markets coming down after this rally.Banks,capital goods and power are hot sectors now.Pharma is a defensive sector during troubling times.So you can look at accumulating some from all these sectors when prices are good.
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