The NSE Nifty  tests it psychological mark of 5500. Heavy selling was seen in metals, banks, realty, auto, FMCG and oil & gas stocks. Top Players like Reliance, Infosys, ICICI Bank, ONGC and ITC were the major laggards.

It was weak closing for the markets today, the biggest losers being interest rate sensitive sectors like banking and realty. Metal also took a severe beating. There was some upward movement in healthcare and consumer durables, and they were the only two sectors to close positive. The Sensex closed at 18345, down 186 points from its previous close, and Nifty shut shop at 5499, down 46 points. The CNX Midcap index was down 0.7% and the BSE Smallcap  index also lost 0.7%. The market breadth was negative with advances at 377 against declines of 934 on the NSE. The top Nifty gainers were Ranbaxy, Hero Honda, Sun Pharma and Ambuja Cements and prime losers included JP Associates, Siemens, DLF, Bajaj Auto.

For the coming trading session the market seems to look bearsih due the inflation and especially the latest hike in the price of petrol. If Nifty future manages to break the resistance of 5580 then it will be in a bullish trend wheras the bears will keep ruling the market if the support level of 520 is broken.

Resistance for Nifty Futures - It has first resistance close to the level of 5580 & above this level the next resistance is seen near the 5685 mark.

Support for Nifty Futures - It has first support close to the level of 5420 & below this level the next support is seen near 5315 mark.