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Market likely to open flat; Buy around 11700 - Karvy Morning Moves (03-04-2019) Video

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β€’ Indian equity markets extended gains to the fourth day on Tuesday. The markets were mainly driven by gains in auto, banking and IT stocks.
β€’ Equity benchmark index Sensex settled 184 points higher at 39,056, after hitting a new intra-day high of 39,121 during the session. Nifty settled 0.40% higher at 11,713, it second-highest closing ever buoyed by strong global markets due to positive factory activity data from China and the US.
β€’ The Nikkei India Manufacturing Purchasing Managers' Index declined to 52.6 in March from 54.3 in February. As per the report, factory orders and production expanded at the slowest pace since last September while job creation eased to an eight-month low in March.
β€’ Technically, Nifty has supports at 11650 followed by 11570 levels while the index has resistance at 11760 followed by 11800 levels. For the short term ahead, the index may continue to trade with a positive bias unless support levels at 11530 are broken down. - Presented by Amit Samar (Research Analyst)
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