TODAY NIFTY TREND 22 MAY 2013

kailashtrifid Wed May 22, 2013 12:08 pm

Markets showed correction for the second consecutive session and settled in red territory closing around its support level. Nifty future on daily charts if holds below the 23.6% retracement of 6060 in the coming sessions then bears may further drag it towards the deeper support of 5990. Any reversals may occur in the range of 6100-6070. Overall, market is now in corrective phase.
TREND: SIDEWAYS
SUPPORT : 6070 & 6020
RESISTANCE: 6155 & 6200
Major Market News:

BSE Sensex sheds 112 as share sales, Fed meet weigh.
Voltas Q4 profit plunges 91.4%.
Coal India climbs as Q4 profit surges 89.7%.
SREI Infra Finance climbs as Q4 profit jumps 5.24 times.
LIC India sells 2.53% stake in Maruti Suzuki.
Tata Steel may sell part of Corus assets to pare debt.