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Nifty trend 10-01-2013

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Nifty trend 10-01-2013 Powered By Docstoc
					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.

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