Nifty trend 23 01-2013

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Nifty trend 23 01-2013 Powered By Docstoc
					Markets showed strength in early trade and crossed their crucial mark while profit booking on these
higher levels dragged them towards their important support levels. Nifty future was unable able to
maintain above 6100 and fell towards support of 6050. Overall, index will continue to remain in
bullish phase until it remains above major support of 6000. However, certain selling pressure may be
seen if it sustains below 6050.

TREND: SIDEWAYS

SUPPORT : 6020 & 5980
RESISTANCE: 6110 & 6150

Major Market News:

        HUL disappoints, Q3 profit up 16% to Rs 871cr; shares tank.

        Kotak M Bk Q3 beats estimate, profit up 31% to Rs 362cr.

        L&T shipbuilding receives fresh orders worth Rs 447 cr from the defence ministry.

        Jewellery stocks drop on hike import duty.

        Dish TV posts net loss of Rs 45 crore in Q3.

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