Markets finally ended the consolidation zone of several sessions and heavy selling was seen from day’s high on basket selling and settled in red with confirmation of bears. Nifty future after breaching 6400 showed free fall towards 6250. On daily charts, it closed below the 21 day EMA surpassing trend line. Hence, bears may continue in the coming session where 6180 is seen as important support while 6300 may act as immediate resistance.
TREND: SIDEWAYS :
SUPPORT : 6210 & 6160
RESISTANCE : 6300 & 6340
DAILY MARKETS TREND :
- Sensex turns negative; capital goods, realty, FMCG drag.
- China PMI hits 3-month low in December.
- Rail stocks rally on hopes of FDI nod in high-speed trains.
- RIL’s Sikka Port expansion hits hurdle.
- UCX-led group keen to buy FTIL stake in MCX & merge itself.
SOURCE : TRIFID RSEARCH