Intraday Trend-13/06/2013

Markets opened near their support levels and dragged towards support levels on account of weak IIP & CPI Inflation data. Nifty future consolidated for the whole session and closed around 61.8% retracement of 5770. If it holds below this crucial level then it will find support in the range of 5740-5700 and chances of reversal are expected from this zone. Strength can be seen above 5800 and resistance is seen around 5820-5850.

TREND: SIDEWAYS

SUPPORT : 5730 & 5680

RESISTANCE: 5820 & 5870

Major Market News:

  • Sensex ends down 102 points on dismal IIP, retail inflation.
  • April IIP dips to 2%,way below the estimates.
  • Tata Group stocks tank on cross holding in Titan.
  • Wockhardt plunges on speculation DCGA may start probe.
  • MMTC tanks 6%, hits 52-week low on stake sale reports.

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