For representational purpose only
Mumbai: On Tuesday, the benchmark indices witnessed narrow range activity, BSE Sensex was down by 40 points. Among sectors, Media and Reality indices corrected sharply, both theindices shed over one per cent whereas some buying interest was seen in banking and financial stocks.
Technically, from last three days, the market is taking support near 57,450 and at the same time it is consistently taking resistance near 58,100 level.
“We are of the view that the 57,450 would act as a key support level forthe bulls. Above which, the index could retest the level of 57,900-58,000,” says Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
On the flip side, a fresh sell off possible only after dismissal of 57,450 below which, the index could slip till 57200-57100.