Markets opened with negative biasness and then traded in the support range for early trades and were able to break their crucial support levels. As per our last report, Nifty future dropped down below the rising wedge on its daily charts and closed below key mark of 6000. This is indicating certain bearishness in the index if it continues to trade in the range of 6000-5950. Now, next major support is seen around 5930 while 6080 will act as resistance mark. TREND: SIDEWAYS SUPPORT : 5940 & 5900 RESISTANCE: 6040 & 6080 Major Market News: Sensex ends 30 points lower; BHEL, Cipla, SBI fall. Bank of Baroda Q3 net declines 21% at Rs 1,011 crore. Nissan India raises vehicle prices by 1.5-2.5%. Bajaj Auto January sales rise 3%. Jubilant Food Works Q3 net profit rises 28%. For more info click here Stock Tips Commodity Tips
"Nifty Trend 05-02-2013"