Indian markets settled lower on Tuesday reversing earlier gains. Nifty had shown strength in early trade today and crossed the important level of 6,100 for the first time in 2 years. However, soon was succumbed to profit booking and fell by over a percent in today's trade. At the close, the benchmark 30-share index, BSE Sensex lost 120.25 or 0.60% at 19,981.57 with 21 components posting drop. Meanwhile, the broad based NSE Nifty went down by 33.80 or 0.56% at 6,048.50 with 38 components registering drop.
Nifty Technical Outlook-
The index has strong support at 6,020 levels on the downside. There is an immediate resistance at 6,080 levels on the upside and on a decisive close above expect rise to 6,150 & 6,200 levels.
Bank Nifty:
The Bank Nifty faces immediate resistance around the 12,880 levels on the upside, on a decisive close above expect rise to 13,260 & 13,350 levels. There is an Immediate Support at 12,600 levels on the downside.
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Above 6080 Nifty can test 6150-6200: Nirmal Bang
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