MARKET SUMMARY: – Nifty 50 Indian benchmark index shut shop in red at 10226 after slipping -0.15% in last trading session of the week. The Nifty 50 index starts the day with a gap up opening but selling pressure on the higher level erased the morning gain and pushed down nifty to closed in red by the day closing.
On WoW basis, Nifty 50 index slips -2.2% and mark weekly low of 10141.
The Nifty 50 index holds immediate support at 10120 level below that 10075-10000 can be tested on the downside. A breakout of 10000 with conviction may open door to 9700 on the downside.
Whereas if nifty holds above 10302 level, a short-term pullback to 10360-420 can be seen. For now, bulls are resting above 10550 level.