Markets witnessed choppy movements in the previous session and gained in the first half due to appreciation in rupee but soon dragged in the later half and closed in red for consecutive seven sessions. Nifty future took strong support of 6000 mark and if this bearishness continues then major support is seen around 100 day EMA of 5950. If it sustains in the range of 6100-6140 then it may lead to some correction and closing in this zone will confirm this correction.
SUPPORT : 5990 & 5940
RESISTANCE: 6090 & 6150
DAILY MARKET TREND
- Sensex trades 63 points lower; rate-sensitives fall.
- SBI Q2 net down 35%;increase in NPAs not as bad as feared.
- RCom up 6% on strong Q2 earnings.
- M&M Q2 net up 10% at Rs 990cr on other income, revenue dips.
- BPCL slips over 2% as Q2 PAT falls to Rs 931 crore.
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