Markets opened gap up where they tested their crucial marks but unable to sustain on higher side and soon rebounded towards support levels. Nifty future on daily charts violated the key resistance of 6020 and soon dragged towards the important support of 5950 and finally ended the third consecutive session on a flat note. Strict resistance is found in the zone of 6010-6030 while 200 day SMA of 5850 is seen as major support from current levels.
SUPPORT : 5920 & 5880
RESISTANCE : 6000 & 6040
DAILY MARKET TREND
- Sensex holds 20,000 level; realty, capital goods climb.
- RBI to cut MSF rate by 25 bps, hike LAF repo rate by 25 bps.
- Jet falls 3% as SC seeks reply on plea against Etihad deal.
- Tata Power acquires 39.2 MW wind farm in Gujarat.
- IVRCL bags orders worth Rs 14.23 bn.