Today market closed down -18.35 points or (-0.34%) and finally settled at 5,420.60 and sensex closed down -51.15points or (-0.28%) and finally settled at 18,086.20
Nifty closed and settled finally at 5,420.60 down by 18.35 points. The Nifty took a breather today and consolidated around 5420-mark after serious drubbing it received at the hands of bears for the first two days of the week. A possible contraction in loan growth of India's largest commercial bank in next few quarters was reflected in realty and auto stocks.
All eyes are now set on EGoM (Empowered Group of Ministers) meet which is scheduled for the next week. The main agenda of this meeting will be diesel price hike and subsidy sharing mechanism.
Market will be very uncertain in upcoming trading session. If it manages to trade at Support level 5370 then market would be upward trend and if breaks this level then it would go down by 50 points i.e., 5320 and if its does not sustain to this level then would decline by 45 points more .
Nifty Manages below this level 5455 then market would be downward trend and if it breaks then would go higher about 40 points that is 5495
Support : It has first support near to the levels of 5370 and below this level near to 5320
Resistance : It has First seen near to5455 and above this level near to 5495
Bank Nifty Index Lost 10593 down by 68 . it is looking Consolidate in upcoming trading session. If it copes to Support level 10505 then market would be upward trend and if it breaks this level then would go down by 140 points that is 10365 and if its does not sustain to this level then would decline by100 points more If Bank Nifty manages below this level 10665then market would be downward trend and if it breaks then would go higher upto 10770.
Support : It has first support near to the levels of 10505 and below this level near to 10365
Resistance : It has First seen near to10665 and above this level near to 10770
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