Nifty futures on the Singapore Exchange are 0.12The Sensex rose modestly on Monday after second quarter GDP data came in slightly higher than estimates raising hopes of recovery in subsequent quarters. The Nifty traded above the 6200 mark, while the rupee edged higher against the dollar at 62.27.
The Sensex rose modestly on Monday after second quarter GDP data came in slightly higher than estimates raising hopes of recovery in subsequent quarters. The Nifty traded above the 6200 mark, while the rupee edged higher against the dollar at 62.27.
Nifty traded with strong positive bias breaching the falling trend line resistance at 6125 and edging higher towards 6180 levels. For the day, support now lies at 6155. As long as it holds the index is likely to witness further up move towards 6230-6250 zone. Only is support at 6155 is breached will the sentiment turn negative pushing prices lower towards 6100 zone. Overall, post the sharp rally witnessed in 3 months (Sep to Nov), Nifty seems to be consolidating in a wide range between 6250- 5950.
Thus price action at 6250 zone would be crucial. Holding support at 6155, Nifty could test resistances at 6230-6250 zone. percent higher, while the MSCI-Asia Pacific excluding Japanindex is up 0.05 percent.
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