Markets showed range bound movement for the entire session; however managed to lead higher mainly due to rise in Banking stocks and finally indices settled on a flat to positive note. Nifty futurehad taken strong support of 21 day EMA of 6270 since last few sessions and heading towards the trend line on daily charts facing strict resistance of 6350. Strength will continue till it maintains above 6300 on losing basis. Support range is seen around 6270-6240.
TREND: SIDEWAYS :
SUPPORT:6290 & 6260
RESISTANCE : 6350 & 6380
DAILY MARKETS TREND :
- Sensex remains slightly higher; banks up; teck down.
- European shares hit 5-1/2 year high, dollar gains.
- Kotak Mahindra Bank Q3 disappoints, net dips 6% to Rs 340cr.
- Asian Paints slips 3% as Q3 margins decline to 15.6%.
- Hindustan Zinc jumps as CCEA approves stake sale.
SOURCE : TRIFID RESEARCH