Markets had continued the bearishness and five day losing streak is seen on daily charts surpassing all its major support and ending on a weak note. Nifty future on daily charts closed below the lower band of channel pattern and so 6120 will act as immediate support on further bearishness. It is exhibiting lower lows on daily charts indicating an up move where it will find resistance in the range of 6220-6240.
SUPPORT:6150 & 6100
RESISTANCE:6220 & 6260
DAILY MARKET TREND
- Sensex ends down 157 points; CD, banks, oil & gas fall.
- PNB Q2 net falls 52.6% to Rs 505.5cr on higher provision.
- Tech Mahindra at 81-month high, jumps 6% on Q2 results.
- Tata Motors Q2 net up 71%, JLR margin expands 300 bps.
- Sun TV Q2 earnings rise 11.9%, but misses estimates.
For More details : http://trifidresearch.com/blog/stock-market-trend-11-november-2013/