Intraday Trend-12/07/2013

Markets bounced in the previous session due to Bernanke comment in FOMC meet and so sentiments with positive bias helped them to settle on higher note. Nifty future was able to cross the higher consolidation range and closed above 5900. Now, strength is expected further where 6000 is the most crucial level which the index will face ahead. Volatile movements are expected due to IIP data and Infy nos. Support zone is seen around 5890-5850.

TREND : SIDEWAYS

SUPPORT  :  5890 & 5850                           

RESISTANCE  :  5970 & 6020

Daily Markets News

  • Sensex surges 382 points at close; Nifty above 5,900.
  • European shares hit 5-week highs after Fed reaffirms easy policy.
  • Apollo Tyres gains; Morgan Stanley buys 0.5 pc stake.
  • Bharti Airtel to litigate Rs 6.5 bn penalty notice.
  • Govt to divest 10% stake in Engineers India via OFS.

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