Markets are not able to move out of their consolidation phase. Nifty future moved in a choppy fashion ahead of June Expiry Series. Global markets are also expected to show amid volatility ahead of major event of European Summit. If it surpasses 5100 level then we expect it to drift towards next stop of 5050. While 5180 is seen as strong intraday resistance and 5215 is still acting as crucial mark on daily charts which it is not able to cross.
SUPPORT : 5100 & 5050 RESISTANCE: 5180 & 5215
Major Market News –
Ø Sensex pares some gains; IT, Metal, Power lead.
Ø Bhushan Steel, Monnet Spat revive takeover bids to acquire Orissa Sponge.
Ø Pratibha Industries likely to bag Rs 600 crore infrastructure order.
Ø Kingfisher Airlines tanks 13% as lessors take back 32 aircraft.
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