Indian Market ended in red on account of weakness across the globe - Emkay

Market ended in red on account of weakness seen across the globe. Buying was seen in the FMCG sector while Technology and Auto sectors witnessed selling pressure.

Nifty ended in red on account of weakness seen across the globe. The daily chart of Nifty suggests a DOJI formation which signifies indecision in the market. The 200 DMA at 5669 will act as a stiff resistance for Nifty and we need a very strong trigger to surpass this level. Support for Nifty is seen at 5500/5480 and a close below this level will further drift Nifty lower to test 5420/5400 levels.

Support: Major support level 5500/5480.

Source : Equity Bulls

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