Intraday Trend-17/06/2013

Markets gloomed on the last day of the week after a continuous losing streak of four days and settled around their strict resistance level. Nifty future opened gap up and lead towards highs and better than expected inflation data further cheered the index. If it is able to maintain above 5800 then some strength is expected where 5870 will act as strict resistance while on any downfall 5730 will act as immediate support for it.

TREND : SIDEWAYS

SUPPORT  : 5760 & 5720

RESISTANCE  : 5850 & 5890

Market Weekly News:

  • Sensex jumps 332 points; rate-sensitives lead as inflation falls.
  • India inflation eases further to 4.7% in May.
  • Reliance climbs on hopes of higher D6 reserves.
  • Apollo Tyres extends fall on concern over large acquisition in US.
  • Jaguar Land Rover May sales drive Tata Motors up 3%.

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