STOCK MARKET TECHNICAL NEWS 27 JAN 2014

stockMarkets after sustaining on highs consistently dropped down on profit booking as well as weak Asian cues and strength in dollar made them to close near the support levels. Nifty future opened gap down with about 40 points and remained lower for the entire session. Now, if rupee depreciation continues then 6240 is seen as its near term strong support and any closing below it may enhance the selling pressure. Immediate resistance seen ahead is of 6320.

TREND: SIDEWAYS

SUPPORT :  6240 & 6200

RESISTANCE: 6310 & 6350S

DAILY MARKETS TREND :

  • Sensex ends 240 points lower; realty, capital goods drag.
  • Asian shares suffer after Wall Street losses.
  • Ranbaxy tanks after USFDA bans Toansa API plant.
  • Bharti Infratel consolidated Q3 profit jumps 61.6%.
  • Glenmark Q3 PAT seen down 14% to Rs 184 cr on high base.

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Source : Trifid Research

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