Monday 14 January 2013

Intraday Market Trend-14/01/2013





Markets pared all intraday gains at the closing of the session on account of disappointing November IIP data and December trade deficit. Nifty future surpassed its crucial level of 6000 and closed below it and also closed below the trend line acting as strong support on daily charts. To gain strength it needs to sustain above 6000 and will find resistance around the range of 6030-6070. Whereas 5900 will now act as strong support for it.
TREND: SIDEWAYS
SUPPORT : 5940 & 5900
RESISTANCE: 6030 & 6070
Major Market News:
  • Nifty closes sub 6K, midcaps bleed; Infy ends up 17%.
  • Nov IIP falls less-than-forecast to negative 0.1%.
  • Dec trade deficit narrows to $17.7 bn, exports fall 1.9%.
  • CMC consolidated Q3 earnings climb 47.6%.
  • Suzlon dips 2.7% on lenders demand to sell REPower.
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