According to Pivot charts, the key support level is placed at 10,328.97, followed by 10,297.53
The Nifty, which started on a bullish note, failed to keep the momentum going as last hour selling put bears on the driving seat on Tuesday. The Nifty moved in a narrow range of 80 points and formed a small bearish candle.
The index, which opened at 10,391, rose to an intraday high of 10,429 but selling pressure soon gripped markets and pushed the index below 10,400 to hit its intraday low of 10,347. It closed 18 points lower at 10,360.
According to Pivot charts, the key support level is placed at 10,328.97, followed by 10,297.53. If the index starts to move higher, key resistance levels to watch out are 10,410.57 and 10,460.73.
The Nifty Bank closed at 24,874.4. Important Pivot level, which will act as crucial support for the index, is placed at 24,749.57, followed by 24,624.73. On the upside, key resistance levels are placed at 25,078.67, followed by 25,282.93.
Here are stocks that are in news today:
Cabinet approves creation of National Urban Housing Fund for Rs 60,000 cr
Union Bank says that it classified Rotomac Global account as a non-performing asset in October 2016
Bank Of IndiaGets shareholders' nod to issue fresh capital as tier-I/tier-II bonds for pref . shrs for amount up to Rs 10,000 cr. Gets shareholders' nod to issue shares worth RS 6,975 cr to govt
Reliance invests in 5% stake of Eros for USD 48.75mn to set up 1000cr corpus to produce content.
For more, watch the Markets@Moneycontrol show as Moneycontrol correspondent Uttaresh Venkateshwaran decodes the markets trends to watch out for today.
