Intraday Weekly Trend- 07 to 11 Jan. 2013
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Markets continued its bull rally last week in support of last minute US fiscal cliff deal.Nifty future is able to close above its previous stiff resistance of 6000 and now crucial level is seen around 6100 above which 6250 is seen as major resistance in the coming week. If it falls below 6000 then 5940 is seen as immediate support while deeper support level is seen around 5830. Volatile movements is expected due to Infy nos. and Inflation data in the coming week. Support: 5940/5830 Resistance: 6150/6250 Crucial Point: 6100 Close: 6048 Market Weekly News: Market ends first week of 2013 on strong note. Wall St Ahead – ‘Cliff’ concerns give way to earnings focus. S&P 500 closes at 5-year high on economic data. Sebi allows market entities to verify PAN of QFI via I-T website. Hudson Equity sells 1.8 cr shares of Manappuram for Rs 77.4 cr. SpiceJet raises Rs 130 crore from Kalanithi Maran in two tranches. Weekly Pick: BANKINDIA FUTURE HAD CLOSED ABOVE THE TREND LINE ACTING AS IMPORTANT RESISTANCE INDICATING FURTHER BULLISHNESS IN THE STOCK. BUY ABOVE 368.50 TARGETS 380-394. MAINTAIN SL OF 352. Weekly Call: HINDUNILVR BUY ABOVE 538 TARGETS 548-562 SL 524. MARUTI BUY ABOVE 1575 TARGETS 1591-1615 SL 1549. For more info click here Stock Tips Commodity Tips