Indian Markets end flat after a volatile session - Nirmal Bang

Indian markets ended the volatile session flat. PSU, healthcare, power and oil & gas stocks traded higher. However, consumer durables declined. India's headline inflation dropped to 4.89% in April 2013 as compared to 5.96% for the previous month. It is below market expectations of 5.4%.

At the close, the benchmark 30-share index, BSE Sensex gained 30.62 or 0.16% at 19,722.29 with 15 components posting rise. Meanwhile, the broad based NSE Nifty went up by 14.95 or 0.25% at 5,995.40 with 31 components registering rise.

Nifty has declined below the crucial levels of 6,020 and has closed below it. The index faces crucial hurdles at 6,030 & 6,050 levels on the upside, expect selling pressure to continue at higher levels.

Action: Nifty has an immediate support at 5,970 and on a decisive close below expect declines to 5,880 levels

The Bank Nifty has closed below the important support of 12,600 levels expect declines to the 12,450 levels. There is a strong resistance at 12,620 & 12,650 levels on the upside where selling pressure is expected.

Source : Equity Bulls

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