STOCK TRADING TIPS AND RESEARCH NEWS 24 FEB 2014

can-stock-photo_csp6903439Markets opened on a strong note and recovered the previous session losses and sustained on higher side in support of capital goods & technology tracking strong US manufacturing data. Nifty future is unable to give a decisive breakout from its range bound movement and hence immediate resistance is seen around 6180-6200. On lower side 100 day EMA of 6126 is acting as crucial support level for it below which 6080 is next support.

TREND: SIDEWAYS

SUPPORT: 6120 & 6080      

RESISTANCE: 6200 & 6240

DAILY MARKETS TREND:

  • Sensex ends 164 points higher; capital goods, FMCG, IT rise.
  • Shree Renuka Sugars ends 6% down on Wilmar deal.
  • Cement companies’ shares surge on talk of price hikes.
  • Offline IOC stake sale likely next week.
  • Telecom M&A norms issued; market share limit hiked to 50%.

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SOURCE : TRIFID RESEARCH

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