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Nifty trend 12 02-2013

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Nifty trend 12 02-2013 Powered By Docstoc
					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%.

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