Nifty Trend 05-02-2013

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Nifty Trend 05-02-2013 Powered By Docstoc
					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%.

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