Markets recovered after huge sell offs in previous weeks with support of Banking stocks which rallied on hopes over the sector reforms; In addition, global market rally, falling of Indian WPI to -0.90% and strengthened Rupee aided to the sentiments which made the indices to close higher approx 2.5%. Nifty future almost tested 7200 mark and so is near to the crucial point of 7240 as it may strengthen if it holds above 7240 on closing basis. While 7050 is seen as major support.
SUPPORT : 7110 & 7060
RESISTANCE: 7200 & 7240
- Market gains more than 2 percent; Nifty ends above 7150 mark.
- Jan WPI fell for the 15th straight month, dropping -0.90 pct compared to 0.73 pct in December.
- Nifty Metal and PSU Index shares were limelight; Index up nearly 10% today.
- Ceat Ltd surged as the company posted a 27% rise in Q3 net profit.
- Financial Tech shares tanked after govt order merger of NSEL.
- Infinite shares rallied after Q3 revenue grows 20.2 percent.
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