Benchmark Indices opened on a negative note but regained in the later half of the session and was able to end on a flat note. Nifty future found strong support of its 100 day EMA and bounced towards the intraday resistance of 5950. On daily charts, nifty is exhibiting lower lows since last five consecutive sessions. Hence, we can see a short bounce back till the range of 6000-6050 in the coming sessions while 5890 will act as strong support for it.
SUPPORT: 5890 & 5850
RESISTANCE: 5980 & 6020
Major Market News:
- Sensex ends flat; RIL, ONGC, Sun Pharma rise.
- HMT jumps over 7% on capital infusion.
- Tata Consultancy Services wins deal from UK’s Network Rail.
- Power Finance seeks re-bids to raise funds via tier II bonds.
- Bharti Airtel shareholders approve stake sale to Qatar Foundation Endowment.
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