STOCK MARKET BUSINESS NEWS AND EQUITY TIPS 17 FEB 2014

stock-photo-financial-and-business-chart-and-graphs-117020356Markets were continuing the selling pressure in the opening session but positive WPI data helped the markets to close on a flat note with positive bias. Nifty future found support around 6000 and a strong pullback was seen towards 6070 in the later half and closed around it. Nifty is moving in range of 6130-5950 since last two weeks which needs a proper breakout to decide the trend further. Event likely to impact in the coming session is Vote on Account.

 TREND: SIDEWAYS

SUPPORT: 6020 & 5980

RESISTANCE: 6090 & 6130

DAILY MARKETS TREND:

  • Sensex ends 173 points higher; IT, teck, oil & gas rise.
  • Jan WPI inflation falls to 8-month low of 5.05%.
  • SBI Q3 net falls 34% to Rs 2234 cr, asset quality weakens.
  • M&M Q3 profit up 12% to Rs 934 cr, tractor biz support.
  • Future Retail shares spurt 20% on turnaround in December earnings.

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Source : Trifid Research

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