Markets bounced back from lower levels after Inflation data fell unexpectedly below 6% and closed on a positive note. Nifty future is consolidating in the range of 5620-5480 since last few sessions on daily charts. Hence, it needs to give a proper breakout on either side to decide the trend further. If it is able to maintain above 5630 then some positive momentum can lead towards 5700. If it falls below 5500 then support range is seen around 5480-5450.
SUPPORT : 5520 & 5480
RESISTANCE: 5620 & 5670
Major Market News:
- Sensex moves up 160 points; ONGC, SBI, Bharti rally.
- Coal India signs fuel supply pacts with 60 power plants.
- Tata Comm signs multi-year pact with Vinci Park.
- L&T to buy out Komatsu’s 50% stake in construction equipment JV.
- Tata Motors plunges as global sales fall.