Market ended flat with a positive bias
after a choppy session on Monday ahead of June-September quarterly results. The
Sensex ended at 31846, up 32 points and Nifty ended at 9987, up 8 points after
testing the 10,000-mark in trade. Wide fluctuations prevailed in the stock
market on Monday before key indices Sensex and Nifty closed with measly gains,
with institutional investors lending all- crucial support. The GST Council last
week offered relief to exporters and small and medium businesses.
Nifty looked reluctant
to push beyond its 50-day moving average, the upcoming earnings season
will decide the direction of the market in the short run. In Short term,
resistance is seen at 10180 level and 10225 while support is seen at 9920-9850
zone. Any decline to supports will attract demand and may see a meaningful
rebound towards higher levels.
Resistance: 10025, 10050, 10085
Support: 9920, 9875, 9850
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