Intraday Market Trend-15/01/2013

Markets traded on a strong note led by lower inflation data which pulled the markets to close above their resistance levels. Nifty future was able to maintain above 6000 for the whole session and resisted around its immediate resistance level of 6060. As per our last report, lower lows on daily charts were indicating a certain pull back from the support levels. Now, 6100 is seen as important resistance ahead while support is seen in range of 5980-5950.
TREND: SIDEWAYS
SUPPORT : 6020 & 5980
RESISTANCE: 6100 & 6150
Major Market News:

• Sensex up over 200 points; ONGC, Infosys lead rally.
• Muthoot Q3 profit rises 7.7%; stock jumps over 6%.
• Gati Q3 profit jumps nearly five-fold on one time gain.
• CMC hits new high on robust Q3 earnings.
• Crompton Greaves to acquire lighting unit of Karma Ind; stock up.

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