Markets were badly hit last week taking cues from overseas investor flows and the weakening in rupee after a U.S. Federal Reserve taper-induced emerging market rout led the indices to mark their lowest levels since November. Nifty future on weekly charts surpassed the key support of 6150 and closed below it. If rupee weakness continues then next crucial point seen for index is around 5980. However, 6210 is seen as important resistance for it and any closing above it can only confirm strength in nifty.
TREND: SIDEWAYS:
SUPPORT : 5980/5870
RESISTANCE : 6240/6370
CRUCIAL POINT : 5980
CLOSE : 6112
continue..Trifid Research