Markets were trading flat initially but soon moved towards day low and dropped down further surpassing it to close in red losing around 1.5%. Nifty future breached its 200 day EMA and closed below it and now, on daily charts 5980 is seen as most crucial level to decide the trend for nifty further. Any closing below this key point will find support in the zone of 5940-5920. However, correction may find immediate resistance area for coming session near 6080-6120.
SUPPORT: 6000 & 5960
RESISTANCE: 6080 & 6120
DAILY MARKETS TREND:
- Sensex ends over 300 points lower;Nifty breaches 6000.
- India manufacturing PMI up 51.4 in January.
- Lupin Q3 net at record high, co buys Netherlands’ Nanomi.
- Oberoi Realty slumps 6% as Dec quarter net shrinks.
- Tata Motors sales dip 34%.
- Maruti Suzuki sales drop 10% in January.
Source : TRIFID RESEARCH