Markets though opened on a flat note but gained momentum in the first half of trade mainly led by IT sector but could not sustain on higher side and profit booking took the indices towards their support side to settle on a flat note. Nifty future violated 21 day EMA of 6242 and closed below it. Weak IIP may support bears and any closing below key support of 6150 may drag it towards next support of 6105. Immediate resistance range seen ahead is 6230-6250.
TREND: SIDEWAYS :
SUPPORT : 6150 & 6105
RESISTANCE : 6230 & 6270
DAILY MARKETS TREND :
- Sensex ends mildly higher; IT stocks rise.
- India’s exports rise 3.5%, imports fall 15.3% in Dec’13.
- Infosys Q3 rises 21.4% to Rs 2,875 cr, beats estimates.
- IndusInd Bank Q3 beats forecast, net up 30% but NPA rises.
- SpiceJet to issue warrants to promoters for fund raising.
Source : Trifd Research