Indian Markets end sharply lower on Wednesday - Nirmal Bang

Indian markets ended sharply lower on Wednesday on the back of selling pressure in interest rate-sensitive after the central bank announced fresh measures to tighten liquidity in the banking system to arrest fall in rupee.

At the close, the benchmark 30-share index, BSE Sensex declined 211.45 points or 1.04% at 20,090.68 with 21 components registering drop. Meanwhile, the broad based NSE Nifty went down by 87.30 points or 1.44% at 5,990.50 with 40 components registering drop.

Nifty yesterday after a gap down opening breached the support of 6,000 levels. The index has confirmed a negative bias on the intraday charts and we expect the index to declines towards the immediate support of 5,910-5,920 levels.

Action: Nifty has an immediate support at 5,960 levels and on a decisive close below expect declines to 5,910levels.

Bank Nifty yesterday after a sharp decline breached the crucial support of 10,800 levels which is a bearish signal. The index has an immediate support at 10,650 levels and close below one can expect further weakness and declines to 11,450 levels.

Source : Equity Bulls

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