Markets opened on a strong note and recovered the previous session losses and sustained on higher side in support of capital goods & technology tracking strong US manufacturing data. Nifty future is unable to give a decisive breakout from its range bound movement and hence immediate resistance is seen around 6180-6200. On lower side 100 day EMA of 6126 is acting as crucial support level for it below which 6080 is next support.
SUPPORT: 6120 & 6080
RESISTANCE: 6200 & 6240
DAILY MARKETS TREND:
- Sensex ends 164 points higher; capital goods, FMCG, IT rise.
- Shree Renuka Sugars ends 6% down on Wilmar deal.
- Cement companies’ shares surge on talk of price hikes.
- Offline IOC stake sale likely next week.
- Telecom M&A norms issued; market share limit hiked to 50%.
SOURCE : TRIFID RESEARCH