Markets were further carried higher by the Bulls on the back of strong movement in Banks as RBI relaxed Basel-3 guidelines which determine banks’ regulatory capital and indices were also supported by global peers and made them to settle with 2% gains. Nifty future has gained 5% since Friday’s closing, which is remarkable and its strong closing is witnessing next resistance on the daily charts around 7490. On the lower side, any correction can find support around 7250.
SUPPORT : 7310 & 7260
RESISTANCE: 7400 & 7440
- Market gains for the second straight day; FMCG, Pharma stock tanks.
- Bank stocks were in the limelight; PSU Bank Index gains nearly 10%.
- Bajaj Auto Feb sales increased by 12 pct; exports tanks for the 6th consecutive month.
- Coal India shares tanks despite achieving 98 percent of production target in Feb.
- Hero Motocorp hits fresh high on NSE; Feb sales grow 13.6 percent.
- BHEL gains as wins new order worth Rs 56 billion in Tamil Nadu.
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