While commenting on the market performance of the day, Alex Mathew head, research centre - Geojit Financial Services stated that the stock markets belled the day in green on account of optimistic prompts coming in from the worldwide markets and dealt robustly all the morning session but capitalists cashed in on the gains produced during the morning session that occurred in the noon session earlier than the weekend and marked its closure in green but off the days` low.

During the afternoon trading, European markets that started optimistically moved in a subdued direction as it was awaiting outcomes of major business houses including Carrefour and Sony Ericsson passing less support to Indian stock markets.

On the positive side, the markets rallied during the morning trade with real estate, bankex and capital goods heading the rally on the hope of interest rate cut from the part of Reserve Bank Of India (RBI).

The stock markets broke up during the last trading hour bringing the stock markets into the pessimistic region and came to a close in green with Sensex up 0.69% and Nifty in contrast was up 0.44%. On the sectoral front, the top gainers list included Realty, which gained 3.13%, Bankex up 2.93%, IT up 2.92%, Capital Goods up 2.57% and Technology up 2.04%.

FMCG closed the day after losing 0.64%, while Oil was down by 0.29%.

On Nifty, the top performers included Unitech, which was up by 21.99%, Axis Bank up 6.6%, HCLTech up 5.61%, L&T up 4.47% and Infosys up 3.87%.

The losers comprised Hindalco, which lost 4.84%, TISCO down 4.05%, Cipla down 3.83%, SAIL down 3.78% and Sterlite down 3.22%.

Alex Mathew opined, "For Nifty the major support is there at 3,214 (10 day exponential moving average). If selling continuous on Monday then Ranbaxy, Sail, ACC, M&M are good for taking short positions especially Ranbaxy if it trades below 181 then it may test 170 and 160."

"Volumes were on the higher side due to portfolio churning by the institutional investors. The 5 week relative strength index (RSI) still remains in the overbought region, so one may see further sell off," he added.