Markets washed off all its gains of previous session and showed strong selling in the beginning of the session on fears of Fed tapering and closed near to their crucial supports. Nifty future lost more than 50 points and found support around 50 day EMA of 6150. Now, if it closes below this strong support then selling pressure may be seen further where 6100 is seen as next major support. However, any recovery in rupee may again lift the index towards the immediate resistance zone of 6220.
TREND: SIDEWAYS :
SUPPORT : 6140 & 6100
RESISTANCE : 6220 & 6260
DAILY MARKETS TREND :
- Sensex slips 151 pts on Fed tapering; Bankex dips 2.4%.
- Global shares up as Fed draws taper’s sting; dollar gains broadly.
- Strides Arcolab tanks 57% on special dividend adjustment.
- Power Grid slumps; shares from sale start trading.
- Wockhardt surges on listing of unit in Europe.
For More Details : Stock Market News