Markets started the May contract on a flat note and ended the session near to their key support levels. Nifty future moved in the range of 5250-5150 last week. This consolidation is observed near to the upper band of downward channel on daily charts. If breakout of this range occurs on lower side of 5150 then it may slip towards deeper support of 5080. While, if it is able to trade consistently in the range of 5240-5290 then bullish sentiments may prevail further.
SUPPORT : 5150 & 5100 RESISTANCE: 5240 & 5290
Major Market News-
- Ø Sensex down 51 points; Realty, Metal fall.
- Ø ICICI Bank beats estimates with 31% growth in Q4 profit.
- Ø Hexaware Q1 earnings surge 64%; eyes Q2 revenue growth of 3.4-4.5% q-o-q.
- Ø Biocon Q4 earnings fall 3%.
- Ø HCC reports loss of Rs 541.7 mn in Q4.
- Ø Suzlon bags 50 MW order from Eoxis Group.
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