Markets opened with a positive bang and sustained in consolidated mode, but at higher levels for first half session and then showed a stupendous rally in the later half on the back of global markets and a rally in banks on hopes of rate cut in upcoming RBI Policy and finally settled the indices on a strong note. Nifty future decisively surpassed the resistance of 7620 and closed above 7700 which suggests that the bulls can lead it towards 7740-7760 while 7620 may act as good support.
SUPPORT : 7660 & 7620
RESISTANCE: 7750 & 7790
- Market gains more than 1 percent banks, Auto lead; Nifty ends above 7700 mark.
- SKS Micro gains as raises Rs 5.38 billion via securitization.
- Indiabulls Housing Finance gains on Credit Suisse upgrade.
- IDBI Bank jumps on buzz of government stake sale.
- BHEL commissions 270 MW thermal units in Punjab; stock tanks.
- Asian Paints shares dips in an otherwise market on price cut worries.
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