The market
ended the session and the truncated week on a subdued note, with the Nifty
holding on to 9850-mark. Benchmark Nifty and Sensex appeared cautious after a
positive opening amid spells of choppiness, with pharma and IT indices holding
up. Stock indices closed almost flat today with gains for the third
straight session, with domestic investors providing crucial support. The rise
came despite an overnight decline on Wall Street and mixed Asian leads. The
Sensex gained 28 points, to close at 31596 after shuttling between 31678 and
31546. The gauge had rallied 309 points in the previous two days. The Nifty
future to closed higher 17 points, at 9880.
Intra-day, it moved between 9889 and 9852. Stock of Infosys continued its
upward trend and spurted by over 2 per cent to Rs 912.
The markets may not see a decline, but they may remain flat for the
coming few days. Nifty future may touch 9900-9950 level. The Nifty could test
9900 as early as Monday’s session. Next
resistance is at 9950-9980.On downside first support is at 9850-9830 level.
Next support is at 9800-9775.
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Supports: 9850 and 9800
Resistances: 9900 and 9950
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