STOCK NIFTY MARKET NEWS AND EQUITY TREND 20 FEB 2014

can-stock-photo_csp4791577Markets opened flat and moved in a tight range for most of the session while saw late trade upmove extending the gains for the fourth consecutive session. Nifty future found support around 100 day EMA and closed again with positive bias. If this upmove continues then strict resistance seen ahead is 6200 while any fall below 6120 may again drag it towards the next support level of 6080. Overall Nifty is around its crucial point to decide its trend further.

TREND: SIDEWAYS

SUPPORT:6120 & 6090         

RESISTANCE: 6200 & 6240

DAILY MARKETS TREND:

  • Sensex ends higher; IT, HDFC twins up.
  • Ranbaxy, Teva settle US anti-trust probe for $3,00,000.
  • Fin Tech jumps 5% as Tech Mah, L&T Infotech eye stake in co.
  • Hero Motocorp falls 1% on price cut of up to Rs 4,500.
  • Sun Pharma gains on US FDA approval of bone drug.

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Source : Trifid Research

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