Indian markets ended sharply lower after a sell-off triggered on concerns of renewed tax treaty between India and Mauritius. Shares of Reliance Infrastructure and Reliance Communications along with index heavyweight Reliance Industries were the top benchmark underperformers. GTL and GTL Infrastructure plunged on multiple rumors of pledged shares being sold,FCCBs default and loan re-payment to Punjab National Bank. Technology stocks led the losses. The S&P CNX Nifty finally closed at 5257.90, down -108.50 points or -2.02 %. The Nifty futures closed and settled finally at 5265 down by -115.10 points or -2.14 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5175 else above resistance level of 5380 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 5380 & above this level the next resistance is seen near the 5460 mark.

SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark.

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