Markets opened near their support levels and dragged towards support levels on account of weak IIP & CPI Inflation data. Nifty future consolidated for the whole session and closed around 61.8% retracement of 5770. If it holds below this crucial level then it will find support in the range of 5740-5700 and chances of reversal are expected from this zone. Strength can be seen above 5800 and resistance is seen around 5820-5850.
SUPPORT : 5730 & 5680
RESISTANCE: 5820 & 5870
Major Market News:
- Sensex ends down 102 points on dismal IIP, retail inflation.
- April IIP dips to 2%,way below the estimates.
- Tata Group stocks tank on cross holding in Titan.
- Wockhardt plunges on speculation DCGA may start probe.
- MMTC tanks 6%, hits 52-week low on stake sale reports.
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