Markets had a gap down opening for the week and remained negatively biased for the whole session. When European markets opened then sentiments worsened further and nifty future slipped below 5300 to make intraday low of 5295. Now, for the coming sessions in this week, 5300 will act as crucial level as it has given breakout on lower levels on daily charts from the consolidation so formed last week. Now, 5260 is seen as support while 5380 will act as resistance.
TREND: SIDEWAYS
SUPPORT: 5260 & 5180 RESISTANCE: 5380 & 5450
Major Market News-
· Sensex plunges 274 points; Realty, Metal drag.
· Adani Enterprises inks pacts with NTPC for supply of imported coal.
· Tata Power in JV with Exxaro Resources.
· Suzlon arm bags order worth Rs 3.67 bn.
· Indian private sector output expands at a slightly slower pace in Feb.
· IRB Infra denies over bidding in Ahmedabad project
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