Weak IIP numbers (industrial growth slowed to 3.6% in February 2011 as compared to an expansion of 15.1% in the year-ago period) and rising crude prices, which may result in a fiscal strain on the economy, exerted pressure on the bourses, as the S&P CNX Nifty, ended almost at the day’s lows of 5,785 off 56.30 points respectively.
The Nifty futures closed and settled finally at 5798, down by -56.90 points or -0.97 %. It looking bearish in the coming trading session if it manages to trade below the support level of 5795 else above resistance level of 5850 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5850 & above this level the next resistance is seen near the 5935 mark.
SUPPORT: It has first support close to the level of 5795 & below this level the next support is seen near 5770 mark.
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