Bears played a vital role and dragged nifty future into negative territory from the onset of the week and situation get worsened when European markets opened in red. As it surpassed 5400 mark it came in the weak zone and its closing indicates further plunging towards 5200. On Friday, buying interest was seen from FII side but still market could not sustain on higher levels further indicates that once it breaks 5180 level then nifty could slip towards deeper supports.
TREND: DOWN
SUPPORT: 5260 & 5180 RESISTANCE: 5400 & 5475
Major Market News-
· Bloodbath at D-Street; Sensex plunges 478 points.
· Realty, metal, power and banking were the worst performers.
· Rupee extends fall on importer payments, weak shares
· Strides Arcolab Q4 profit surges 10 times.
· Orchid Chemicals & Pharmaceuticals up on FCCB repayment reports.
· MCX fixes IPO price at Rs 1,032 a share; raises Rs 663 crore.
Gold remained firm as Federal Reserve minutes released on Wednesday.capitalstars
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