Markets opened on negative bias, showed sideways movement till European markets opened after that more selling pressure seen and closed in red. Nifty future found support around psychological level of 6200. On daily charts it moves in an upward channel pattern closing below 6170 may drag it towards 100 day EMA i.e. around 6100. On higher side 6275 is act as major resistance for it only above this some strength is expected towards next resistance of 6320.
TREND: SIDEWAYS :
SUPPORT : 6185 & 6140
RESISTANCE: 6275 & 6320
DAILY MARKETS TREND :
- BSE Sensex ends 64 pts down; banks, realty down.
- L&T bags orders worth Rs 29.62 bn.
- Reliance Infra, Tata Power fall on power tariff cut reports.
- Mastek jumps on buyback plan.
- RPP Infra Projects up 20% on new orders.
Source : stock market news