Markets Close flat after positive opening

At the closing bell , Indian markets are almost flat with nifty gaining just 6 points (up by 0.32%) from the previous day closing.

Earlier, at the opening bell, backed up with excellent global queues from US and Asia, the NSE opened with positive gap up by more than 100 points with 5010 on Nifty50.

The industrial growth numbers came in the afternoon which showed that January Industrial growth is at 5.3% as against 11.6% (YoY). With this news, when the market reopens after sun outage , the selling started which pulled back the NIFTY to 4700-4800 levels.

From here on, it looks like, NIFTY is going to retest the January levels of 4600.