Indian benchmark indices ended the session lower backed by dim hopes of any ease in interest rates by the RBI. The 50‐share NSE Nifty closed below the 5400 level for the first time this week, weighed down by weak Global cues after doubts over Greece's future in the Eurozone and fading hopes of stimulus in the US. The NSE's Nifty fell 28.65 points to close at 5,386.70 ahead of F&O expiry week, after hitting an intraday low of 5,371. As mentioned in our previous reports, Nifty has multiple resistances between 5,450‐5,500 trajectory. On daily charts, Nifty failed to stage upside breakout from the key resistance zone, as a result market reacted downwards from those levels. Nifty has formed a small bearish candle and has broken below its supporting trendline, signaling a short‐term reversal or it may at least slowdown the pace of up move in the coming sessions if prices weaken and close below 5,350 bears would take control of the market. However, Nifty manages to hold 5,3...
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