Markets opened firmly and Nifty spot traded above 5600 levels in early trade but quickly supply was witnessed from higher levels. There was consistent selling pressure for the rest of the day in index majors which took Nif-ty close to yesterday lows around 5550 in late trade.
Some buying support was witnessed from there as Nifty closed with minor gains in the end. Auto index was the leading gainer among BSE Sector indices for second consecutive session. Realty, Oil & Gas and Metal indices were on losing side. Market breadth continued to re-main negative. Nifty has shown minor positive close after 7 consecutive negative days and the sluggish trend may persist for a day or two. Nifty has ended near support of 5550 for the last two sessions but we have not seen a sustainable bounce yet. We need to see an up move above 5610 levels in next session else breaching of support near 5550 can soon be a possibility.
Some buying support was witnessed from there as Nifty closed with minor gains in the end. Auto index was the leading gainer among BSE Sector indices for second consecutive session. Realty, Oil & Gas and Metal indices were on losing side. Market breadth continued to re-main negative. Nifty has shown minor positive close after 7 consecutive negative days and the sluggish trend may persist for a day or two. Nifty has ended near support of 5550 for the last two sessions but we have not seen a sustainable bounce yet. We need to see an up move above 5610 levels in next session else breaching of support near 5550 can soon be a possibility.
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