Indian Equities turned negative on Monday - Nirmal Bang

Indian equity turned negative in the end of the day. Healthcare, consumer durables, banking and oil & gas stocks lost ground.

At the close, the benchmark 30-share index, BSE Sensex lost 62.14 points or 0.31% at 20,223.98 with 18 components posting drop. Meanwhile, the broad based NSE Nifty fell by 30.40 points or 0.49% at 6,156.90 with 37 components posting drop.

Nifty has managed to close above 6,150 which is a bullish signal. However, if Nifty trade above the 6190 then we may see it tests the level of 6230. There is an immediate support at 6140-6090 levels on the downside.

Action: Nifty has an immediate resistance at 6,190 and on a decisive close above expect rise to 6,230 levels.

Bank Nifty faces immediate resistance around the 13270 levels on the upside and on a decisive close above expect rise to 13400 levels. There is an Immediate Support at 13000 levels on the downside.

Source : Equity Bulls

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