STOCK MARKET TECHNICAL RESEARCH NEWS 30 JAN 2014

stockMarkets opened on a good note but thereafter witnessed continuous selling towards their near support levels and finally closed on a flat note with negative bias. Nifty future is in bearish phase since consecutive four days and now 100 day EMA of 6143 may decide the trend further as any closing below this will continue selling where 6050 is seen as major support. On higher side, 6200 is strong resistance. Key events seen ahead are FOMC meet and Jan F&O Expiry.

TREND: SIDEWAYS

SUPPORT: 6080 & 6060

RESISTANCE: 6170 & 6210

DAILY MARKETS TREND :

  • Sensex ends 36 points lower; consumer durables, metal fall.
  • ICICI Bank Q3 profit grows 13% on higher NII, other income.
  • Bharti Airtel Q3 net up 4.5%, hit by tax provision.
  • TVS Motor Q3 net profit rises 31% to Rs 68.8 crore.
  • Indian Overseas Bank Q3 profit falls 35.6%.

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Source : Trifid Research

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