Stock Tips-06/05/2013

Markets moved on a choppy note for the whole session on account of disheartened RBI monetary Policy and profit booking was seen on higher levels. Nifty future was unable to sustain near 6000 and reversed towards 5940. If it trades in the support zone of 5920-5860 then the index may see a downfall towards 5800 in the coming sessions. Whereas 6030 will act as the major resistance ahead.

TREND: SIDEWAYS

SUPPORT : 5920 & 5870

RESISTANCE:   5990 & 6030

 

Major Market News:

  • Sensex falls over 150 points led by rate-sensitives.
  • Bharti to sell 5% stake to Qatar Foundation for Rs 67.96 bn.
  • Ambuja Cement Q1 profit jumps 56.3%.
  • JSW Energy Q4 profit jumps 49%, beating expectations.
  • HCC Q4 loss narrows to Rs 502.6 mn.

 

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