STOCK NIFTY TREND 08 OCTOBER 2013

s1Markets plunged with the start of the session but soon recovered and showed a strong pull back in the later half despite of weak global markets and finally closed on a flat note. Nifty future took strong support of its 200 day SMA and index was able to maintain above crucial mark of 5900 and closing indicates certain strength in it. It is getting constant resistance around 5980-6010 while any closing below 5850 can again drag nifty to lower levels.

TREND: SIDEWAYS

SUPPORT      :  5890 & 5850
RESISTANCE:   5980 & 6020

DAILY MARKET TREND

  • Nifty ends above 5,900; banks fall, IT shares gain.
  • Apollo, Cooper disagree over $2.5bn deal value.
  • Bombay Dyeing jumps 16% on stake sale buzz to PE firms.
  • L&T secures two EPC projects worth Rs 11 bn.
  • Coal India drops on concern govt may announce stake sale.

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