Nifty Futures closes near critical support level of 6200 - Religare

Nifty futures opened sharply lower on back of weaker global cues and higher inflation numbers continuing its profit booking to close at the low point of the day. India VIX remained flat at 17.84% levels. Nifty futures closed down by 67.1 points at 6197.80 with a premium of 29.4 points to the spot closing of 6168.40.

All sectors ended negative with the highest correction in banking, capital goods, and Infrastrure and realty sectors to correct by 3% average. The advance decline was bad with 16 advances and 121 declines in the derivatives segment. Banking, Media and Pharma sectors gained the maximum open interest.

Nifty futures have closed near the critical support levels of 6200; sustenance above 6230 will see some bounce back. The immediate resistances on the higher side are at 6280 and 6320 levels while on the downside supports are at 6150 and 6120 levels.

Source : Equity Bulls

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