Benchmark Indices were trading in a tight range for almost whole session but sharp decline was seen in the last hour of trade due to weakened rupee and closed near their support levels. Nifty future saw free fall after surpassing the major support of 6200 and closed with negative bias. It is expected to move in range bound where 6200-6240 will act as resistance for it. While, if rupee continue to depreciate then immediate support is seen near 6090.
SUPPORT : 6090 & 6040
RESISTANCE: 6190 & 6240
DAILY MARKET TREND
- Sensex, Nifty slump 1%; Bank Nifty loses 2%, Coal India up.
- IFC raises Rs 1,000 crore from first rupee bond sale at 7.75%.
- Wyeth locked at 20% upper circuit on plan to merge with Pfizer.
- Shriram EPC rallies over 10% on multiple orders worth Rs 214 crore.
Source : Trifid Research Pvt Ltd.