"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. For more info click here Stock Tips Commodity Tips