Indian Stock markets had a very volatile session. The markets started the day on a flat note, but soon touched all time high. As suggested by some Technical Analysts, the markets could not touch the 17000 level. The markets came down sharply and lost the early gains. Profit booking was cited as one reason and another was the Futures and Options closing for the month.

The trading was suspended due to sun outage for nearly 50 minutes. Markets continued their downfall when the trading resumed around 12.10 p.m.

The market was supported by rise in HDFC Bank, Reliance and Hindalco. Most of the stocks recovered their loss by the end of trading session. Most of cement counters were down with Ambuja cement showing signs of weakness.

BSE Sensex ended the day with a gain of 54 points at 16,899. NSE Nifty was up by 7 points. As the market came down sharply before touching 17,000 mark, Technical Analysts expect that it may be bit difficult to reach that level this week. The Indian stocks still have lot of steam left and some big investment houses are suggesting levels of 19,000 by the end of this year.