Stock Market Wrap :
· Indian markets end in red. Nifty, Sensex loses 0.32% & 0.26% respectively.
· Asia-Pacific markets gain over upbeat global data, BoE keeps policy same. Wall St ended up. GBP Mfg. Prod. at 1.1%. Dow Futures up by 57.05 points.
· Nifty ended at 6050.15 down -19.15 points or -0.32 percent and the Sensex ended at 19939.04 down -51.14 points or -0.26 percent.
· RBI to launch plastic currency notes with longer shelf-life
· Punjab National Bank Q4 net falls 21% on higher provisions
Technical View :
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5990
SUPP 2: 5915
RES 1: 6110
RES 2: 6180
BANK NIFTY FUTURE LEVELS
SUPP 1: 12460
SUPP 2: 12110
RES 1: 12770
RES 2: 12920
Stock Recommendation :
Our recommendation on Jindal Steel is SELL below 316 for the Target of 312/308.
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