Markets continued to fall for the third consecutive session and tested the lows of May’ 2014 on the back of weakness in PSU Banks over concerns of growing NPAs and other global uncertainties; however positive European markets resulted in short covering while indices closed in red losing around 1%. Nifty future broke 7200 and immediately pulled closed above it. Fresh selling could now be observed below the support of 7190 while 7300-7330 is seen as intraday resistance to it.
SUPPORT : 7190 & 7150
RESISTANCE: 7300 & 7350
- The market has hit lowest since May 2014; PSU banks, Realty stocks tanks
- Bharat Forge gains as entered into a JV with Rafael.
- Allahabad Bank hits fresh low; Q3 loss stood at Rs 486 crore.
- IDBI Bank raises Rs 1000 crore from bonds to fund infra projects.
- Jubilant Life tanks despite reported net profit of Rs 117 cr from net loss of Rs 11.16 cr.
- NBCC posted 13.56% rise in Q3 net profit stood at Rs 57.28 crore.
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