Markets are stuck in the range since last few sessions as it was again a flat closing for the previous session and hence it needs a proper breakout on either side to decide the trend further. Nifty future strictly resisted around 100 day EMA of 6130 and dropped to close below 6100 mark. Supporting IIP & Inflation data may lift markets towards the resistance range of 6130-6160 while on lower side 6030 is seen as strong support for it.
SUPPORT : 6060 & 6030
RESISTANCE: 6130 & 6160
DAILY MARKETS TREND:
- Sensex ends 85 points higher; capital goods, oil & gas rise.
- Jan IIP shrinks 0.6%; CPI inflation hits 2-yr low at 8.8%.
- Railway stocks drop as Interim Budget disappoints.
- Tata Steel slips 3%, net debt woes remain.
- OnMobile shares surge on open offer premium.
SPURCE : TRIFID RESEARCH