EQUITY ANALYSIS MARKET NEWS AND STOCK TIPS 05 FEB 2014

STOCKMarkets opened on a negative note and violated the crucial support level; thereafter rebounded towards immediate resistance levels to close flat with positive bias. Nifty future breached the key level of 5980 and strong pull back was seen towards 6050 and closed on a satisfactory note with reversing candlestick pattern on daily charts. Sustaining above 200 day EMA of 6050 may lead towards 6120 mark and 5990 will act as important support.

TREND: SIDEWAYS

SUPPORT: 5990 & 5950

RESISTANCE: 6080 & 6120

DAILY MARKETS TREND:

  • Sensex ends tad higher; banks, FMCG, realty gain.
  • Asian shares skid, but dollar regains some traction.
  • Idea Cellular says gets access to disputed regional permits.
  • Tech Mahindra Q3 net profit up 38% on exceptional gain.
  • Bharat Forge Q3 net doubles to Rs 94 cr, margin up 460 bps.

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Source :  Trifid Research

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