Markets last week found support around key support levels and bounced towards resistance levels to end the week on a flat note. Nifty future found support near 38.2% retracement of 5955 on daily charts and gave satisfactory closing above 200 day EMA of 6050. For the coming week, 23.6% retracement of 6156 may act as crucial point as closing above this will indicate strength and may lead towards resistance of 6240. On lower side, 5950 will again act as major support below which bears may become active. Key events seen ahead are IIP data and Inflation nos.
[SOURCE: TRIFID RESEARCH ]