IntradayTrend-03/05/2013

Benchmark Indices ended on a buoyant note on hopes of rate cut by RBI and closed above their crucial mark. Nifty future traded towards higher levels for the whole session and bulls drifted nifty towards its psychological mark of 6000. Volatility is expected due to monetary policy and immediate resistance seen is 6040 above which 6080 is seen as next important resistance. If it trades in the range of 6000-5960 then it next support is seen around 5920.

TREND: SIDEWAYS

SUPPORT : 5960 & 5920

RESISTANCE: 6040 & 6080

Major Market News:

  • Nifty ends just below 6,000; Sensex surges 232 points.
  • Bharti Q4 disappoints, net up 79% to Rs 509 cr; stock down.
  • Kotak Mahindra Bank Q4 net up 47%, beats estimates.
  • OBC Q4 net up 16% at Rs 308 cr on tax writeback.
  • Bajaj Auto April sales down 10%; sees higher May sales.

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