Market
started trading on Tuesday in the green. The gains were quickly eschewed and
the indices traded in the red through the day. The first half of the day saw
sideways trading with Nifty holding on to the 18k and Sensex over the 60k mark. The indices pared gains in the second
half of the day. The broader indices helped the markets while sectoral indices
pared gains from earlier in the day. Midcap indices and industrials retained
gains of over 0.5% across the day. Though auto returned to more than 1% gains
towards end of trading, the index remained subdued for large part of the day.
Nifty
traded in a sideways range today. It closed at 18051, down by 17 points. Nifty
is currently trading near its 20-day moving average and it is important for
Nifty to close above 18050 with higher than average volumes. Nifty will face
resistance in 18100 to 18200 range and has support at 17900 and 17800 levels.
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Resistance: 18100, 18200, 18300
Support: 18000, 17900, 17800