Nifty failed to sustain above 5200

In a bid to check rupee's free falling against the US dollar, the Reserve Bank of India (RBI) on Monday hiked the limit of external commercial borrowing (ECB) to USD 10 billion. Moreover, the regulator also increased the limit of overseas investment in government bonds by USD 5 billion to USD 20 billion which punters feel negative for equity markets.
As described into previous blogs, Nifty could't sustain above 5210 level and ended at 5107.95 by 38.1 points in negative and Sensex closed at 16860.03 with 112.48 points in negative. All BSE sectoral indices closed into negative except Consumer durables' index which was 0.13% up.Bankex was the top loser by 1.23%. In Nifty50 stocks, Heromotoco was the top loser by 2.69% and ended at 2030 whereas Cairn was the top gainer by 1.35% and ended at 330.5. HDIL was the turnover topper by the traded quantity and SBIN was by the traded value. Advance/Decline ratio was positive as 750 stocks gained and 674 stocks declined today on NSE.


Nifty Outlook : Nifty failed to close above 5210 similarly closed below its prior resistance of 5180. 5090 and 5030 are crucial supports ahead. Closing above 5210 leads Nifty to some firmness.


Immediate Support : 5090
Immediate Support : 5180