Markets opened strong after the awaited Fed Reserve meets outcome which signaled fewer rate hikes this year and weakened dollar also supported Rupee appreciation, indices sustained at higher levels in the first half, but lost all the gains in the later half on slippage in European markets which made the indices to settle on flat note. Nifty future is still unable to surpass the 7600 mark and on the lower side, dragging below 7450 can again skid the index towards the major support of 7400.
SUPPORT : 7450 & 7410
RESISTANCE: 7550 & 7600
- Sensex, Nifty erases day’s gains and finally closed on a flat note led by Banks and Pharma stocks.
- Biocon falls despite inks Insulin mfg deal with Mexican firm.
- Reliance Infra to demerge power biz for Rs 62.83 billion.
- Bharti Airtel gains as plans to acquire Videocon’s spectrum in 6 circles for Rs 44.28 billion.
- KEC shares gains as wins new orders worth Rs 10.41 billion.
- SKS Micro raises Rs 2.15 billion via securitization; stock tanks.
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