The markets had opened on a flat note on the back of subdued cues coming in from the global markets and moved up soon but could not sustain at those levels and slipped into red in the mid morning session but the formation of the new government and the strong financial reforms expected from the government weighed more and the markets were pulled up from the day’s low with strong buying emerging in ICICI, SBI, Reliance and L&T. The markets were volatile in the afternoon session but remained strong with an eye on the reforms of the government which will be revealed in near future. Further support came in the US index futures and European markets which were in green and our markets finally came to a close for the day and week after gaining 1.1% and Nifty on the other hand gained 0.66%.
For Nifty the major support is there at 4150 and 3886 which is still intact while the resistance is there at 4375 and 4450 levels.
