Intraday Trend-10/05/2013

Markets moved in their resistance range and ended the volatile session on a flat note ahead of IIP data as profit booking was seen on higher levels. Nifty future took resistance of 6090 and traded in a choppy fashion for most part of the session Until it gives closing above 6000 this bullish rally will lead towards new highs while on lower side 5970 will act as major support. Volatility may continue in the coming session due to IIP data.

TREND: SIDEWAYS

SUPPORT : 6010 & 5970

RESISTANCE: 6090 & 6120

Major Market News:

  • Sensex trades flat; IT up, HC down.
  • European markets dip from multi-year highs.
  • PNB, Union Bank surge post Q4 results; Indian Bank falls.
  • Godrej Properties approves rights issue worth Rs 7 bn .
  • Aptech jumps 11% on buyback plans.

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