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9am with Emkay |
20 January, 2011 |
n Technical Comments
Feeble close
Nifty was almost flat in the initial hours of trade but sell-off in heavyweights in last couple of hours pulled Nifty below 5700-mark to close at 5,691.05, with a loss of 33 points. With the end of today’s session, Nifty has formed a negative outside bar, which means that a retest of 5610 (i.e. 200-DSMA) is possible. On the other hand, a break above 5748 will help Nifty to add some more points of gain to this relief rally.
Bank Nifty:
For Bank Nifty too, the negative close is a sign of weakness and we can fall back to the previous swing low of 10,384, if failed to pass the high of 10745.
n Results Today
Biocon | Info Edg.(India) | JSW Energy | Kajaria Ceramics | Kirl. Brothers | Kotak Mah. Bank |
KPIT Infosys. | Persistent Sys | Sasken Comm.Tec. | South Ind.Bank | SRF | TVS Motor Co. |
United Bank (I) | Yes Bank |
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