The markets took some breathe after three days continuously falls in the bear rally mainly led by index heavyweights like Reliance and Banking stocks and global rally after China posted its GDP nos and finally the intraday short covering headed the indices to close on a positive note. Nifty future needs to close around 7500 for the short recovery from trend line breakout on daily charts while on the lower side, 7350 is still seen as the nearest and important support for the index.

TREND: SIDEWAYS:

SUPPORT : 7400 & 7350
RESISTANCE: 7480 & 7530

MARKET GOSSIPS:

  • Markets soar more than a percent, led by Banks, Infra, Realty and Auto stocks.
  • HCL Tech net up by 11 percent stood at Rs 1920 crore.
  • Tata Steel UK may cut 1050 jobs to reduce costs and to improve competitiveness.
  • Reliance Power reported robust Q3 numbers, profit up 38% to Rs 351.8 crore from 254.4 crore.
  • MindTree to acquire Magnet 360 for USD 50 million; stock tanks.

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