Markets opened in positive but soon dip in red and maintained on lower side for the whole session and finally settled on a flat note with negative bias. Nifty future strongly faced resistance ahead of 6400 mark and fell sharply towards the support of 6320. On daily charts, bearish engulfing candlestick pattern is observed indicating selling pressure may continue where 6280-6260 may act as support range. However, if rupee appreciates then index may find immediate resistance at 6370.
TREND: SIDEWAYS :
SUPPORT : 6300 & 6260
RESISTANCE : 6370 & 6410
DAILY MARKETS TREND :
- BSE Sensex ends weak;realty, IT drag.
- European shares edge to fresh five-year highs.
- Sesa Sterlite starts mining in Karnataka after SC lifts ban.
- FIPB clears Vodafone’s Rs 10,141 crore & Tesco’s $110 million FDI proposals.
- Railway stocks rally on FDI news.
Source : Trifd Research