Markets opened on a strong note but strongly resisted around their psychological resistance levels and dropped sharply towards their near term support levels. Nifty future violated 6600 mark and sharply dragged towards the support level of 6520 and finally closed on a flat note with slight positive bias. Now, 6500 is seen as crucial mark and closing below it can result in correction where 6460 is seen as good support. On higher side 6610 may act as strict resistance.
SUPPORT: 6500 & 6460
RESISTANCE: 6580 & 6610
DAILY MARKETS TREND:
- Sensex trades flat; PSU up, IT down.
- Infosys signs multi-year application development deal with Volvo.
- Orchid Chem up 10% on debt restructuring package approval.
- Cairn Energy halts $300 million share buy-back after income-tax probe.