Intraday Trading Tips; Sensex reclaims 27000 amid consolidation

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The Intraday market ended a volatile session on a higher note. The Nifty managed to end above 8100, up 19.80 points at 8105.50 while the Sensex was up 65.17 points at 27061.04. Cipla, Bharti Airtel, Maruti, Sesa Sterlite and Hero Motocorp were top gainers in the Sensex. Among the top losers were Sun Pharma, Hindalco, Tata Power, NTPC and BHEL.

Benchmark indices managed to clock marginal gains amid consolidation on Friday as investors remained cautious ahead July industrial output and August CPI data due later in the day. The 30-share BSE Sensex reclaimed 27000 level, up 65.17 points to close at 27061.04 and the 50-share NSE Nifty too climbed above 8100-mark, rising 19.80 points to 8105.50.

The consolidation may continue in near term but sharp upside won’t be possible at least till the government dilutes stake in big names ONGC and Coal India, say experts, adding the 8150 will act as a resistance and 7800 as a strong support.