STOCK MARKET TREND 28 OCTOBER 2013

nifty-tipsMarkets opened with negative bias and exhibited volatile session and closed on a flat note for the second consecutive session indicating markets in corrective mode from current levels. On daily charts, Nifty future could not give a proper breakout of Head & Shoulder pattern. Now, 6120 will act as major support sustaining below which nifty may drag towards next support of 6060. While, 6200 will act as strong resistance for it in the coming session.

TREND: SIDEWAYS

SUPPORT      :  6120 & 6058

RESISTANCE:   6190 & 6240

DAILY MARKET TREND

  • Sensex weak; ITC falls 1.5% on Q2 nos, Hindalco loses 4%.
  • ICICI Bank Q2 net up 20%, asset quality improves, NIM rises.
  • TVS Motor Q2 beats street, net up 97% to Rs 89 cr.
  • ITC Q2 net profit up 21.5% to Rs 2,230 cr, sales disappoint.
  • Thomas Cook consolidated Q3 profit grows 77%.

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