Indian Markets end choppy session lower - Nirmal Bang

Indian markets ended the choppy session lower on Tuesday led by losses seen in consumer durables, FMCG and power stocks. At the close, the benchmark 30-share index, BSE Sensex declined 91.37 points or 0.46% at 19,659.82 with 19 components registering drop. Meanwhile, the broad based NSE Nifty fell by 30.35 points or 0.51% at 5,956.90 with 32 components registering drop.

Nifty declined below the crucial levels of 5,980 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 5,950 and on a decisive close below expects declines to 5,900 & 5,850.

The Bank Nifty has closed below the important support of 12,500 levels expect declines to the 12,400 & 12,300 levels. There is a strong resistance at 12,580 & 12,650 levels on the upside where selling pressure is expected.

Source : Equity Bulls

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