STOCK MARKET ANALYSIS NEWS 16 JAN 2014

Markets were in positive momentum from the beginning of the session and gained in the later half due to eased Dec WPI Inflation rate at 6.16%. Nifty future opened above 21 day EMA and managed to lead towards key resistance mark of 6300 and closed above it indicating strength in index. On daily charts, strict resistance is seen near the trend line coming from all time highs i.e. around 6370. On lower side, support is seen in range of 6280-6250.

TREND: SIDEWAYS  :

SUPPORT  : 6280 & 6250

RESISTANCE: 6370 & 6400

DAILY MARKETS TREND :

  • Sensex jumps 256 points; capital goods, banks lead.
  • European shares hit 5-1/2 year highs on better growth outlook.
  • Dec WPI inflation eases to 5-month low 6.16%.
  • YES Bank Q3 net profit up 21% to Rs 415 cr, NPA doubles.
  • Infosys weightage at 8.69%, overtakes ITC in Nifty.

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Source :  Trifid Research

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