Realty, FMCG and Capital Goods provide support to higher closing in Indian Markets - Nirmal Bang

Indian equity ended higher on Monday led by gains seen in realty, FMCG and capital goods. India's headline inflation increased marginally to 4.86% in June 2013 as compared to 4.7% for the previous month. Market had expected rise of 5% in June.

At the close, the benchmark 30-share index, BSE Sensex gained 76.01 points or 0.38% at 20,034.48 with 18 components posting rise. Meanwhile, the broad based NSE Nifty climbed by 21.80 points or 0.36% at 6,030.80 with 33 components registering rise.

Nifty with a sharp gap down opening expected; the index is likely to breach the immediate support of 5,960 levels and the decent is likely to extend towards the 5,910 which would act as a cushion on the downside.

Action: Nifty has an immediate support at 5,910 levels and on a decisive close below expect declines to 5,850 levels.

The Bank Nifty is likely to open below the important support of 11,650 levels which is a bearish signal. There is an immediate support at 11,580 levels and close below one can expect further weakness and declines to 11,450 levels.

Source : Equity Bulls

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