By Mr. Vivek Gupta

The 50-share index ended at 6,024.55, down 91 points or 1.49%. The S&P BSE Sensex closed over 360 points down after taking support near 20,000 levels. A hike in the interest rates was observed by the RBI, where the rupee weakened further against the dollar after the announcement of the RBI policy.

Nifty futures wiped out all the gains at the end of  the weekly trading session after crossing the 6000 mark. It managed to close at 6047.20 up by 171.30 points from the previous week’s close. Technically, it is now facing resistance at the mark of 6070 with the crossing of which it is likely to surge till the next level of 6170.

For downside, major support is at the level of 5950 and 5850.

Stocks to watch on:

JUBILANT FOODWORKS (JUBLFOOD): Technically, the stock is consolidating sideways with the positive bias and is forming an inverted H&S pattern on daily charts, which is poised to be bullish in the forthcoming session. It is currently facing strong resistance at the level of 1085 with the crossing of which prices are likely to surge in the near term. One may go for longs in the scrip above the mark of 1085 with strict SL of 1045 and target of 1125.

HEXAWARE TECHNOLOGIES (HEXAWARE): The stock is trading with the positive sentiment, trading range bound. It is currently facing major resistance at the level of 125 with the crossing of which an upward movement in the prices can be seen. One may go for long position in it above the level of 125 for a target of 128 and a strict stop loss of 122.