Intraday Trend-09/07/2013

Markets opened on a weak note due to rupee depreciation but were able to gain in the later half of the session and closed on a satisfactory note. Nifty future since last week is trading around the upper band of channel pattern and took strong intraday support around it i.e. 5770. If it is able to hold above the 100 day EMA of 5852 then it may lead towards resistance of 5870-5900. Index is mainly consolidating in the range of 5900-5750 from which a breakout is needed.

TREND: SIDEWAYS

SUPPORT      :  5790 & 5750

RESISTANCE:   5870 & 5910

Daily markets News

  • Sensex falls 193 points; Mid and smallcaps outperform.
  • Tata Motors drops on concern JLR facilities may face production disruption.
  • Rcom hits 52-week high as it hives off real estate business.
  • Neyveli Lignite shares gain as Sebi gives Tamil Nadu consent to buy stake.

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