Indian markets end slightly higher on Wednesday - Nirmal Bang

Indian markets ended slightly higher on Wednesday as sentiment remained cautious throughout the day ahead of F&O expiry. Realty and consumer durables stocks witnessed buying interest while capital goods stocks were under selling pressure.

At the close, the 30-share benchmark index, BSE Sensex ended flat with a rise of 14.10 points or 0.07% at 20,005. While the broad based NSE Nifty closed flat with a gain of 5.85 points or 0.10%, at 6,055.75.

Nifty Technical Outlook

Nifty is stuck in a tight range as there is an Immediate Resistance at 6,100 levels on the upside, expect selling pressure to continue at higher levels unless index manages to sustain and close above it. The breaks of crucial support of 6,020-6,000 levels expect declines to 5,960 & 5,930 levels in the near term.

Action: Nifty has an immediate resistance at 6,100 on the upside and support at 6000 on the downside.

There is strong resistance at 12,850 & 12,900 levels on the upside, where selling pressure is expected one should maintain a positive bias only on close above this for an upside potential to 13,350. Bank Nifty has immediate support at 12,450-12,550 levels on the downside.

Source : Equity Bulls

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