Stock Market Technical News 05 December

Markets were unable to hold firmly on higher levels and constant rebounding was seen since last few sessions which made them to close in red territory. Nifty future in the previous session crossed the support mark of 6200 and closed around it. Now, crucial mark for coming sessions is seen near its 21 day EMA of 6150. However, if rupee strengthens then it may help the index to move towards the resistance zone of 6250-6270

TREND: SIDEWAYS

SUPPORT   :  6150 & 6110

RESISTANCE  :   6230 & 6270

DAILY MARKET TREND :

  • Sensex ends 146 points lower; realty, FMCG, auto main losers.
  • World shares slide ahead of US data crunch.
  • Unitech plunges 9%; LIC likely to declare co defaulter.
  • Wockhardt falls 4%, US FDA says co erased key trial data.
  • Power Grid Corp $1.1 billion follow-on public offer fully subscribed.

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Source :  Trifid Research

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