Intraday Trend-07/05/2013

Markets ended in green led by buying in metal and IT stocks and above their support levels indicating strength in the coming sessions. Nifty future if sustains above 5980 then it may lead towards the immediate resistance of 6030. While on lower side if some correction occurs then strong support zone is seen in the range of 5930-5860. Overall, it needs a proper breakout of the consolidation to decide the trend further.

TREND: SIDEWAYS

SUPPORT : 5940 & 5900

RESISTANCE: 6010 & 6050

Major Market News:

  • Sensex, Nifty gain 0.5% at close; Metal, IT lead.
  • Asian markets gain as investors cheer upbeat US data.
  • Adani Power consolidated Q4 loss doubles.
  • Grasim Q4 profit up marginally.
  • South Indian Bank Q4 profit climbs 26.1%.
  • MTNL jumps 12.6% on hopes of revival.

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