Markets opened on a good note but could not sustain on resistance levels and dropped towards their crucial support led by banking stocks in the later half and closed flat with negatively biased ahead of RBI Monetary Policy. Nifty future has closed near to the crucial support of 6140 and as per forecasted hike of 25 bps by RBI; index may drag towards next support of 6100-6080. On higher side, strength can now only be seen if it sustains above 21 day EMA of 6220.
TREND: SIDEWAYS :
SUPPORT : 6120 & 6080
RESISTANCE : 6200 & 6240
DAILY MARKETS TREND :
- Sensex ends 47 points lower; bankex drag 1.3%.
- Asian shares head higher, euro gains ground ahead of Fed.
- Apollo Tyres up post Cooper loses court bid to force merger.
- BSE to move 40 scrips, NSE 18 stocks to ‘T’ Group.
- ZEEL to take media business undertakings from DMCL.
Source : Trifd Research