Nifty Ended at 5956.90 down 30.35 points, due to losses in capital goods, Bank, auto and infra stocks.
Shares of SunPharma gain near 3% on Tuesday, after its Israel based subsidiary reported better quarter earnings. The stock traded near its 52 week high. Other pharma Stocks GLAXO and RANBAXY and CIPLA moved up, LUPIN, Dr Reddy’s down today.
Today market closed below 5900 level, the higher selling pressure may bounce back above 6000 position. Major consolidation will seen in coming trading session.
On up side it will take resistance between 5969-5970, on down side we saw support at 5948-5947 level. If index cross 5970 level it may regain 6000 position. Nifty Expected to open positive tomorrow.
Cement stock may gain on Wednesday due to improved price. Ultratech Cement planned to purchase cement plant in Gujarat owned by ABG Cement, stock gained 1.56%, Shares of Ambuja Cement moved 3.05% and ACC moved 2.00% today trading session.