Markets could not hold on higher levels in the intraday session and ended flat. Nifty future consolidated in the range of 20 points in the opening session but once it broke 5000 level then it drifted down towards 4050 mark. On daily charts, it is making consecutive lower lows. Bearish sentiments may further drift nifty towards the crucial mark of 4900. On higher side, 5000 is still acting as important resistance for nifty to cross while 5070 is next stiff resistance for it.
SUPPORT: 4910 & 4850 RESISTANCE: 5020 & 5070
Major Market News –
ØSensex, Nifty close flat; weak European cues weigh
Ø European shares clamber off four-month lows on Thursday.
Ø Maruti Suzuki shares fall after muted guidance from Suzuki Motors.
Ø Cipla meets estimates, Q4 net up 36.5% YoY to Rs 292 cr.
Ø RIL acquires shares in HDFC, ICICI, SBI, PNB, Canara, HDFC Bank & Axis Bank.
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