Wednesday markets traded lackluster and ended marginally higher amidst mixed cues. Initially, upbeat global cues triggered a firm start in the indices but lack of follow-up buying and profit-taking in the index majors capped the upside. It hovered in a range till the end however movement on the broader front kept the participants busy. Consequently, the Nifty index ended higher by 0.5% at 15178 levels.
Nifty has been hovering within the 14900-15300 zone and a
decisive break on either side would trigger the next directional move.
Meanwhile, traders have no option but to limit their leveraged positions and
maintain a stock-specific trading approach. The upcoming macroeconomic data
i.e. IIP and CPI combined with cues from the global markets will dictate the
trend ahead.
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Resistance: 15200, 15350, 15500
Support: 15050, 14900, 14850
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