Markets were unable to hold on higher levels and dragged towards their crucial support level and ended in red territory. On daily charts, Nifty future is depicting lower lows since last few sessions which is indicating that nifty has strength to move on higher side where 6040 will act as important resistance. If on lower side it surpasses the level of 5950 then it will find its support in the range of 5930-5900. TREND: SIDEWAYS SUPPORT : 5950 & 5930 RESISTANCE: 6040 & 6070 Major Market News: Nifty ends below 6000; railway stocks fly on fare hike. Hong Kong shares resume rally, China flat before economic data. Indusind Bank Q3 profit climbs 30% led by strong income. Tata Motors climbs over 3% on rating upgrades. Tata Chem hopes govt allows urea capacity build-up. For more info click here Stock Tips Commodity Tips
"Nifty trend 10-01-2013"