Stock Market Technical trend 26 September 2013

Markets after opening on a flat note faced a free fall towards deeper support level but recovered in the last hour due to rupee appreciation and closed flat ahead of F&O Expiry. Nifty future surpassed the lower band of channel pattern on daily charts and found strong support around 5810. Volatile movements might be seen due to September series expiry. If it crosses the key level of 5810 then selling could be seen while resistance range is seen around 5930-5970.

TREND: SIDEWAYS

SUPPORT      :  5850 & 5810

RESISTANCE:   5930 & 5970

Daily Market Trend

  • §  Sensex ends mildly lower; Reliance, HDFC Bank drag.
  • §  ONGC, Oil India climb as CCEA nod to explore shale gas & oil.
  • §  Reliance plunges as shale gas & oil policy favors PSUs.
  • §  PowerGrid to invest Rs 22.56 bn in two projects.
  • §  HCL Tech bags multi-mn deal from WyCAN Consortium.

 

Leave a Reply

Your email address will not be published. Required fields are marked *