Markets were firm in the first half of the session unaffected by RBI Monetary Policy which came as per expectations as key rates remains unchanged, but global weakness dampened the sentiments in the later half which made the indices to settle in red losing approx 1.25%. Nifty future strongly reversed from 7600 and closing below 7500 is not a good sign in this sideways to bearish trend of the index. Now, 7400 can act as next important support while 7540-90 is seen as resistance.
SUPPORT : 7420 & 7370
RESISTANCE: 7520 & 7560
- Market tanks more than a percent; Metal Index tanks nearly 5%.
- RBI keeps interest rates unchanged: repo rate at 6.75%.
- Bajaj Auto shares gains after Jan sales climb 2 pct to 293939 units.
- Aurobindo Pharma tanks despite receives USFDA approval for 2 drugs.
- TVS Motors reported 12% up in the Jan sales; Exports up by 39%.
- Tata Elxsi hits fresh high after reported strong Q3 numbers.
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