Markets opened on a satisfactory note on the first day of the week on the back of positive global cues and sentiments were also favored by RBI Governor’s statement which suggested for rate cut hence selected Banks, Oil, Metals helped the indices to close in green territory gaining approx 0.38%. Nifty future is facing strict resistance around the 100 day EMA i.e. 7600 which may act as a crucial point in the index. On the lower side, 7510-7460 is seen as an Intraday support range.
SUPPORT : 7510 & 7460
RESISTANCE: 7600 & 7640
- Market erases day’s gains to end marginally in the positive.
- February WPI inflation remains negative at 0.91 percent.
- Wipro wins 5 years multi-contract from NRGi; stock gains.
- Suven moved higher by 3 pct after secures 3 overseas patents.
- Glenmark surged as getting the nod from USFDA for Frovatriptan Succinate tablets.
- Mastek rallied 15 percent on the back of huge volumes.
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