Nifty future is trading with selling pressure since last four consecutive sessions and settled in the weak zone @ 5277 in previous session. On daily charts, it gave closing below the trend line acting as support which indicates further weakness in it for today’s session.
Global weakness may further plunge nifty towards 5230. If it breaks this crucial support then it may slip towards 5180. On higher levels, 5330 will act as strict resistance while 5400 is seen as next hurdle level for it.
SUPPORT: 5230 & 5180 RESISTANCE: 5330 & 5400
Major Market News-
- Sensex down 179 points; Realty, CD & Power drag.
- CPI inflation stands at 8.83% in February.
- India`s forex reserves fall by USD 1.02 bn .
- Tata AIG buys 10,900 shares of Tata Steel.
- Reliance Industries stock hit by gas output worries.
- IT shares like TCS, Infosys hit by corporate spending worries
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