Stock Market Trading News 08 JAN 2014

Markets were unable to maintain at higher levels and dragged towards support side in the opening session and hovered around lower side in the post noon trade to close in red. Nifty future on daily charts is finding strong support near 6150 below which bears may become more active. If rupee appreciation helps the markets to pull back then nifty may find strict resistance near 21 day EMA of 6260 above which 6300 is seen as key resistance for it.

TREND: SIDEWAYS :

SUPPORT  : 6170 & 6140

RESISTANCE : 6240 & 6280

DAILY MARKETS TREND :

  • Sensex remains negative; Tata Steel, Hindalco, ONGC drag.
  • Asian shares falter to near 4-month low, dollar regains strength
  • MCX rallies over 2% as Blackstone ups stake by 2.79%.
  • ONGC-OIL pay $2.475 billion to Videocon Group.
  • JSW Steel promoter hikes stake in company.

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Source :  Trifid Research Pvt. Ltd

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