Markets had undergone five day losing streak as selling pressure had dragged them towards the strong support zone and consolidating around it since last four consecutive sessions. Nifty future again moved in the tight range in the previous session resisting near 6200 and finding good support near 6170. Now, it needs to break the consolidation on either side to decide the trend where 21 day EMA of 6260 will act as major resistance while 6150 as strong support.
TREND: SIDEWAYS :
SUPPORT : 6170 & 6140
RESISTANCE:6230 & 6270
DAILY MARKETS TREND :
- Sensex ends flat with positive bias; CIL, Cipla gain.
- JSW Steel crude steel production jumps 52% in Q3.
- Coal India up 6% as board to consider interim dividend.
- ONGC Videsh-Oil India complete acquisition of Videocon stake for $2.475 billion.
SOURCE : TRIFID RESEARCH