Labels: , , , , , ,

Today Markets succumbed with selling pressure in the last leg of trade after Reserve Bank of India raised rates by 25 bps which may weigh on margins & profitability of India Inc as loans become more expensive. The S&P CNX Nifty finally closed near day’s low at 5396.75 and was down by -50.75 points or -2.48 %.
Nifty futures today closed and settled finally at 5409 and was down by -41.60 points or -0.76 %. Nifty futures is looking bearish in the coming trading session if it manages to trade below the support level of 5350 else above resistance level of 54, it would be in an upward trend.
Resistance & Support Levels for Friday:-
It has resistance close to the level of 5460 & above this level the next resistance is near the 5540 mark. It has support close to the level of 5350 & below this level the next support is near 5230 marks.


Post a Comment