Nifty's short-term trend remains weak. But, having placed near the cluster support of around 22000 levels, one may expect an upside bounce from the lows in coming sessions. Immediate resistance is at 22,260 levels, said Nagaraj Shetti of HDFC Securities.
Indian equities closed negative. Nifty 50 at 22122.05 (-0.4%) and S&P BSE Sensex at 72790.13 (-0.5%). IT, metals, and pharmaceutical stocks faced selling pressure. US stocks edged higher; European equities edged lower. MACD showed bullish trade and bearish signs.
On July 13, Nifty 50 opened at 16,128.20 points and Sensex opened at 54,054.67 points. Till 9.22 am today, Nifty 50 gained by 0.31%, and Sensex gained by 0.32%. Nifty FMCG surged by 0.66%, Nifty Metal gained by 0.59%, Nifty Pharma surged by 0.11%, and Nifty IT gained by 0.39% today.