Nifty Trend-27/05/2013

[kailashtrifid]

Markets continued its losing streak but were able to recover in the second half of session and settled on a flat note below their strong support levels. Nifty future is finding its major support at 5930 on daily charts surpassing which further bearishness may drag it towards the next important support of 5860. While resistance is seen in the range of 6030-6060. Overall, selling pressure is expected to be seen on rallies.

TREND: SIDEWAYS

SUPPORT: 5930 & 5880

RESISTANCE: 6030 & 6080

Major Market News:

Sensex ends 30 points higher; Tata Steel surges.
MRPL swings to loss in Q4.
Karur Vysya Bank Q4 profit up 8%.
Fortis to divest entire stake in Australian arm for AUD 270 mn.
Karnataka High Court allows UB Holdings sell shrs to Diageo.

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[SharekhanNProfitsharingCommodityTips]

The Indian rupee weakened for a second day on Thursday, weighed down by losses in the domestic share market on concerns about likely outflows in the event of a sooner-than-expected U.S. Fed taper.

Worries of sustained inflationary pressures in the economy also prompted investors to short the domestic currency, with the government due to announce November retail price inflation data and October factory output data after market hours.