Markets opened on a negative note on account of weakened rupee and traded quietly in a tight range for the entire session and finally closed flat after a two days rally. Nifty future on daily charts is still trading above the trend line acting as resistance and strength can be seen if it surpasses the resistance range of 6280-6300. While on lower side, 21 day EMA of 6150 is seen as important support holding below which index will appear in weak zone.
SUPPORT : 6200 & 6160
RESISTANCE : 6280 & 6320
DAILY MARKET TREND :
Nifty ends flat at 6202,Bankex, FMCG, Auto drag.
Nikkei hits highest closing level in 6 years as yen tumbles.
Hero Motocorp forms JV with Magneti Marelli.
Shree Renuka Sugars up 6% on possible stake sale to Wilmar.
Wipro gains on plans to acquire Opus Capital Market Consultants.
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Source : Trifid Research