Markets opened strong and optimism was maintained after Indian PMI rose to four month high to 51.4 in January but cautiousness was seen ahead of RBI Monetary Policy and Auto, Banks and Power stocks dragged the indices gradually lower to close on a flat note with negative bias. Nifty future is unable to surpass the strong resistance of 7600 and it needs a closing above this mark to lead towards 7690 while on the lower side, 7520-7500 is still seen as a good support range.
SUPPORT : 7520 & 7470
RESISTANCE: 7610 & 7650
- Markets end flat ahead of RBI Policy; Auto, Banks & Power drag.
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