Stock Tips-14/05/2013

Markets plunged about 2% in the starting of week on profit booking after a relentless bullish rally seen from various sessions. Nifty future showed a free fall with good volumes surpassing the support of 6070 and fell towards the next important support of 5990. For the coming session if it is able to maintain above 6030 then it may sustain its bullishness but if it falls below the strong support range of 5980-5960 then some correction may be seen in the coming sessions.

TREND: SIDEWAYS

SUPPORT : 5930 & 5860

RESISTANCE: 6030 & 6070

Major Market News:

  • Sensex crashes 431 points; FMCG plunges.
  • Bank of India Q4 profit falls 20.6% on higher provisioning.
  • Bank of Baroda Q4 below estimates; profit drops 32.2%.
  • Punj Lloyd bags order worth Rs 7.3 bn from ONGC.
  • JK Cement drops 4% on disappointing Q4 nos.

 

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