Markets continued its bullish momentum with good volumes and closed on a strong note near to their crucial resistance levels. Nifty future
closed above its 100 day EMA of 5775. On daily charts, if bulls remain
active then it will face strict resistance of 5870 around the trend line
coming from previous highs. However, if it is unable to sustain on
psychological mark of 5800 then support range is seen near 5730-5680.
TREND: SIDEWAYS
SUPPORT : 5730 & 5680
RESISTANCE: 5820 & 5870
Major Market News:
- Sensex soars 285 as Mar trade deficit cheers; banks rally.
- IndusInd Bank Q4 net up 37% at Rs 307 cr.
- MRF Q2 net jumps over 40% to Rs 211 cr.
- CRISIL Q4 profit drops 13%.
- Puravankara Projects’ Q4 net jumps 71 per cent.
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Markets ended the choppy session on negative note on account of disappointing Infy results and IIP nos.Nifty future traded
on lower side in the last week and could not hold near 5600 as well as
increase in open interest is also indicating selling pressure in the
coming sessions. Major support is seen around 5480 surpassing which next
support range is seen near 5440-5400. On higher side immediate hurdle
range is 5570-5600.
TREND: SIDEWAYS
SUPPORT : 5480 & 5440
RESISTANCE: 5570 & 5620
Major Market News:
- Sensex drops over 300 points; BSE IT falls nearly 11%.
- JSW Energy to be included in Nifty Midcap 50 index.
- Infosys disappoints with flat Q4 net at Rs 2,394 cr.
- BHEL East posts 92% jump in PBT to Rs 259.63 cr for FY13.
- Tata Motors global sales down 16.5% in March.
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Benchmark Indices showed a choppy session in the last
session of the week and were unable to test their crucial resistance
levels. Nifty future
strongly resisted near 5600 for the whole session and tested the major
support of 5550. Overall, bears are seen to capture nifty and if it
surpasses this crucial level then intraday support is seen in the range
of 5530-5480 while any correction may lead it towards 5630-5650.
TREND: SIDEWAYS
SUPPORT : 5530 & 5480
RESISTANCE: 5630 & 5670
Major Market News:
- Sensex down 64 points; mid and small-caps outperform.
- Maruti jumps on hopes weaker yen to reduce import cost.
- DLF to sell two windmill projects for Rs 241 cr.
- L&T bags orders worth Rs 2,000 crore in March.
- Adani Power falls as Haryana govt to challenge CERC order.
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