Stock Market Technical View By Trifid Research

stockMarkets witnessed another day of consolidation with low volumes amid volatility and settled the session on flat note near to their record highs. Nifty future found intraday support near 6590 and headed towards record highs above 6600 and closed again on a strong note indicating bulls to continue till it maintains above 6600. Correction can be seen only if it sustains below 6570. Overall, better strategy for indices to buy on dips.

TREND: SIDEWAYS

SUPPORT: 6570 & 6530

RESISTANCE: 6640 & 6670

DAILY MARKETS TREND:

  • Sensex remains flat; BHEL up, RIL down.
  • Financial Technologies sells 5% stake in IEX for Rs 729 mn.
  • Gujarat NRE Coke jumps on lenders nod for CDR proposal.
  • SKS Microfinance up 2% on 11th securitisation of Rs 183 cr.
  • Arvind gains; buys JV stake for Calvin Klein India.

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