Indian markets end volatile session lower on Monday - Nirmal Bang

Indian markets ended the volatile session tad lower on Monday led by losses seen in PSU, healthcare, power and oil & gas stocks.

At the close, the benchmark 30-share index, BSE Sensex declined 30 points or 0.15% at 19,751.19 with 19 components registering drop. Meanwhile, the broad based NSE Nifty went down by 11.65 points or 0.19% at 5,987.25 with 36 components posting drop.

Nifty declined below the crucial levels of 6,000 and closed below it. The index faces crucial hurdles at 6,020 & 6,050 levels on the upside, expect selling pressure to continue at higher levels. The index is likely to decline towards the 5,900 & 5,840 levels in the near term.

Action: Nifty has an immediate support at 5,980 and on a decisive close below expects declines to 5,900 & 5,850.

The Bank Nifty has closed below the important support of 12,600 levels expect declines to the 12,450 & 12,300 levels. There is a strong resistance at 12,680 & 12,700 levels on the upside where selling pressure is expected.

Source : Equity Bulls

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