Market updates for 11/01/2013

Nifty hourly chart

Nifty is unable to break 5965 and as long as this level holds bulls have upper hand. In today's trading session Nifty made a low 5947 and sustained there for some time. But at the end of the day it has closed at 5968. If Nifty sustains below 5965 then it can fall up to 5930-5900.

Don't trade for the sake of trading , don't trade only because you have idle cash in account. Trade because you have an opportunity in front of you and trade as per YOUR risk tolerance not as per tolerance of your broker or adviser. 

ITC

ITC has support at Rs. 278. Breakout from this level can lead to further fall.

Corporate Results on 11/01/2013

Infosys , Bajaj Corp , CMC

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6020
Reversal if closes below	5800

Thought for the day

Forget the past. The vanished lives of all men are dark with many shames. Human conduct is ever unreliable until anchored in the Divine. Everything in future will improve if you are making a spiritual effort NOW. - Yukteswar Giri