Markets opened gap down and remained on lower levels for the entire session while breached their important support levels in the later hour and closed in red ahead of IIP & Inflation data. Nifty future surpassed its immediate support of 6260 and closed around it. Now, if selling pressure continues then it may find support of 21 day EMA i.e. 6230 below this it may drag towards 6180. On higher side, 6320 has now become key resistance level above which strength can be seen.
TREND: SIDEWAYS :
SUPPORT : 6220 & 6180
RESISTANCE: 6310 & 6360
DAILY MARKETS TREND :
- Sensex plunges 246 points to close below 21,000.
- Asian shares slide to 2-1/2 month low on Fed tapering anxiety.
- Tata Motors dips 5% on JLR plans; top loser on Sensex.
- Just Dial surges 2.2% ahead of FTSE listing on December 23.
- Lanco Infra gains as banks approve Rs 8,000 crore CDR.
Source : Trifid Research