Equity benchmarks continued to rally higher crossing all their resistance levels and closed on a strong note. Nifty future on daily charts maintained above its 100 day EMA for the whole session and will now face stiff resistance around 5870 which is coming near to trend line from recent highs. Closing above 5870 will ignite the bulls towards the next resistance of 5920. While correction from current levels will find support in the range of 5790-5730.
SUPPORT : 5790 & 5730
RESISTANCE: 5870 & 5920
Major Market News:
- Sensex gains over 100 points; CIL, HDFC Bank, L&T lead.
- MindTree Q4 profit rises 14.02%.
- Wipro loses Rs 75.5 bn in market value as stock tumbles.
- UltraTech Cement Q4 PAT down 16% at Rs 726.2cr.
- Essar Ports’ net profits grows five fold to Rs 300 crore.