Stock Nifty Trend 17 October 2013

Stock-market-heres-trifid-researchMarkets opened gap up but soon dropped down on account of rupee depreciation and other domestic issues of rate sensitivities and settled in red territory. Nifty future tested the neckline of Head & Shoulder pattern and now potential buying can be seen only if it decisively sustain above 6200. While correction can happen if it sustains below the important support of 6050 and may further drag towards the deeper support level of 6020.

TREND: SIDEWAYS

SUPPORT      :  6070 & 6020

RESISTANCE:   6150 & 6200

DAILY MARKET TREND           

  • Sensex ends 60 points lower; Bankex, Realty drag.
  • TCS Q2 beats forecast, net up 24% to Rs 4702 cr.
  • HDFC Bank Q2 profit rises 20% to Rs 1982cr, NII disappoints.
  • NIIT Tech Q2 profit beats forecast, up 17.3% to Rs 62.4 cr.
  • Sintex surprises street, Q2 net profit up 0.7% at Rs 73 cr.

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