Sunday 20 January 2013

Nifty Trend-21/01/2013




Markets opened on a strong note but could not hold on higher levels and slipped towards its important support levels and closed on a firm note. Nifty future is still facing strict resistance of 6100 and is unable to hold near this key level. On daily charts, upper consolidation is seen which is expected to give a positive breakout above 6100. On lower side, support is seen in the range of 6040-6000.
TREND: SIDEWAYS
SUPPORT : 6040 & 6000
RESISTANCE: 6100 & 6150
Major Market News:
  • Oil shares help Sensex finish above 20,000; midcaps slack.
  • HDFC Bank Q3 in-line with estimates; profit up 30%.
  • ITC Q3 beats estimates, profit grows 21%.
  • NMDC’s production, sales dip by over 13% in Apr-Dec.
  • Hind Zinc Q3 profit up 27% to Rs 1613 cr, stock declines.
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