Markets opened with negative sentiments and continued that in the first half of the session, but positive European markets and FMCG, Private Banks and selected technology stocks helped the indices to bounce back from the near supports and close in green gaining 0.50%. Nifty future reversed from the important support of 7400 on the daily charts and headed towards 7530. Sustaining above 7500 can lead it towards 7600 while 7400 will still act as good support for the index.

TREND: SIDEWAYS:
SUPPORT : 7490 & 7430
RESISTANCE: 7570 & 7610

MARKET GOSSIPS:

  • Market rebounds on positive European cues; Banks and FMCG stocks gains.
  • Fertiliser stocks were in demand as government directs MRP printing on P&K bags.
  • Reliance Infra ends on flat note after Board approves scheme of arrangement between Co & Reliance Electric.
  • Eicher Motors tanks more than 4 percent on brokerage downgrade.
  • Geometric shares rallied after declares interim dividend.
  • Den Networks jumps 18 percent as company to sell 50 pct stake in Star Den.

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