Benchmark indices again traded with negative bias and closed on a flat note ahead of IIP & Inflation data. Nifty future has found strong support around 5900 for second consecutive session and if it surpasses near term support of 5870 then next major support is seen around 5838. However, strict resistance is seen near the range of 5965-6000. Volatility is expected due to IIP data hence fresh buying is not recommended at current levels. TREND: SIDEWAYS SUPPORT : 5870 & 5838 RESISTANCE: 5965 & 6000 Major Market News: Sensex falls for 8th session; ONGC down ahead of Q3 nos. Tata Power Q3 loss at Rs 329cr on provision for impairment. UCO Bank sees fall in slippages, growth in CASA. Cadila plunges almost 6% on weak Q3 results. MMTC m-cap moves up by Rs 82 bn as shares rally 16%. For more info click here Stock Tips Commodity Tips
"Nifty trend 12 02-2013"