Markets opened on a flat note and then dragged gradually during the whole session mainly due to falling global prices and Crude prices and trades seemed cautious ahead of Fed Reserve’s two days meet which will start tonight; finally indices closed losing about 1% mainly dragged by Pharma stocks. Nifty future reversed from the 100 day EMA as per last report and 7400 is seen as major support for the index. On the higher side, it needs a closing above 7560 to regain strength.
SUPPORT : 7440 & 7400
RESISTANCE: 7550 & 7600
- Markets retreat from 6 weeks high on global cues.
- Pharma shares under pressure; Pharma index down 3 percent.
- L&T arm wins new orders worth Rs 16.72 billion.
- Lupin shares tanks 8 percent on the buzz of USFDA inspection at Goa facility.
- Aviation stocks where demand; Jet Airways gains.
- Aurobindo Pharma gets nod from USFDA for Ibandronate Sodium tablets.
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