Choppy start of the week, Uncertainty ruled the market. A volatile trading session ended on flat not due to lack of direction from earnings results or the global markets. Market sentiments were mixed regarding the recovery in corporate earnings, post easing of lockdown measures, and effectiveness of RBI measures to infuse liquidity into the financial system. The Sensex closed 59 points higher at 31648, while Nifty was down 5 points at 9261.Today’s action increases importance of 9400 as a crucial barrier. The next leg down looks around the corner unless the 9400 mark gets taken out on a closing basis. On the other hand, 9100-9000 is a key support zone for the index below which larger downside will open up.
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Resistance: 9400, 9500
Support: 9100, 9000
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