Markets ended the week on bearish note as concerns over the weakness in rupee weighed on sentiment and witnessed a volatile session peaking at noon and retreating in towards the end. Nifty future is consolidating in the zone of 5870-5970 since last few sessions and a proper breakout is expected in the coming sessions. However, 5850 is still acting as major support from where selling may be enhances while strict resistance is seen around psychological level of 6000.
SUPPORT : 5890 & 5850
RESISTANCE : 5970 & 6020
Major Market News:
- Sensex ends 90 points lower; rate-sensitives drag.
- European shares steady near 6-wk lows ahead of payrolls.
- Weaker rupee drives Indian IT stocks higher.
- Aban Offshore receives LoA from ONGC for Rs 10.5 bn contract.
- Polaris surges 13.5% on buzz of stake sale talks.
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