Intraday Trend-11/06/2013

Markets closed on a flat note hovering around the same consolidation zone of last week and weakened rupee also negated the market sentiments. Nifty future is finding strong support around 50% retracement of 5860. If it holds below this level then next major support is seen near 5770 in the coming sessions. While 38.2% retracement of 5950 will indicate some strength in markets above which 6000-6030 will act as resistance range.

TREND: SIDEWAYS

SUPPORT : 5850 & 5800

RESISTANCE: 5940 & 6000

Major Market News:

  • BSE Sensex ends flat; rupee weak, realty drag.
  • Nikkei marks best day since March 2011 on US jobs boost, GDP data.
  • Yes Bank gets shareholder nod to raise USD 500 mn.
  • NMDC signs MoU for mineral projects in Zimbabwe.
  • JSW Steel plans to raise up to $700 million via bonds.

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