Markets started on flat note and remained sideways in the first half but soon gained and moved towards previous day’s high and closed on flat note maintaining on higher levels. Nifty future is facing constant resistance in range of 6350-6370 surpassing which it may lead towards the key level of 6400. Market mood seems to be bullish till it maintains above 6300. Profit booking on higher levels may find strong support near 6290 i.e. 21 day EMA.
TREND: SIDEWAYS :
SUPPORT : 6320 & 6290
RESISTANCE:6400 & 6440
DAILY MARKETS TREND :
- Sensex gains 60 points; capital goods up 2%.
- China January manufacturing PMI falls to 49.6, first contraction in 6 months.
- Indian Bank Q3 net falls 20% on low NII but NPA improves.
- Biocon consolidated Q3 profit climbs 14.4%.
- Mastek surges on strong Q3 profits, margins.
Source : Trifid Research