Markets were running on a flat note but were hit by RBI Monetary Policy hiking the repo rate by 25 bps entirely reversing street expectations and ended the volatile session on a flat note. Nifty future violated 6100 mark on and closed above it. If it sustains in the range of 6170-6200 then some up move can be seen. Weakness may continue till it maintains below 100 day EMA of 6144. On lower side, major support is seen near 200 day EMA of 6050.
SUPPORT: 6100 & 6060
RESISTANCE:6200 & 6240
DAILY MARKETS TREND :
- Sensex ends slightly lower; IT, healthcare drag.
- RBI credit Policy: Repo rate up by 25 bps to 8%, CRR intact.
- Maruti Q3 beats forecast, net up 1.6%; to expand in Gujarat.
- Idea falls 4.5% as Q3 margins decline 10 bps to 31.1%.
- IPCA Labs Q3 profit up 58% to Rs 139 cr on higher revenues.
Source : Trifid Research