Nifty Trend 17-01-2013

							Markets opened on a flat note but dragged towards lower side near to their support levels and closed
with a fall of approx 1%. Nifty future moved with negative bias for the whole session and sound
support around 6000 level. On daily charts, it found support around the trend line acting as support
for it. If it holds below this trend line then some correction may be seen below its immediate support
of 5960. On higher side, resistance is still maintained near 6100.

TREND: SIDEWAYS

SUPPORT : 5960 & 5930
RESISTANCE: 6060 & 6100

Major Market News:

        Nifty down 0.5%; Tata Motors, Hindalco, JSPL plunge.

        Bajaj Auto Q3 profit grows 3%; margins improve sequentially.

        RCom signs billion dollar contract with Alcatel-Lucent.

        Yes Bank Q3 beats estimates; profit climbs 34.7%.

        Tata Motors drops 2% as global sales fall.

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