Intraday Trend-16/07/2013

Markets after a strong closing in the previous session and traded on a firm note in the noon session on the note of better than expected Infy results. Nifty future was able to sustain on 6000 mark and closed around it. A proper breakout of downward channel pattern on daily charts is according to which strength is still seen while aftermarket weak IIP data may affect its movement. Intraday resistance is seen around 6050-6090 while 5950-5900 range will act as major support for it.  


SUPPORT  :  5950 & 5900                           

RESISTANCE  :  6050 & 6090

Daily Markets News

  • Sensex trades up 170 points; Mid and small-caps underperform.
  • Trade deficit narrows from seven-month high in June.
  • Infosys Q1 profit up 3.7% y-o-y; beats expectations.
  • South Indian Bank Q1 net falls 6.5% on higher provisions.
  • Shriram Transport to raise Rs 750 cr via NCD issue.

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