DAILY NIFTY MARKET ANALYSIS 12/10/2013

ECONOMY ANALYSIS

Chidambaram expects economy to grow by 5-5.5% in 2013-14

Govt plans roadshows for Coal India divestment

Chemicals weapons watchdog OPCW to win Nobel Peace Prize,NRK says

GoM on Telangana meets for first time; assures fairness

August IIP seen at 2.5%; Sep CPI may rise above 9%: Poll

India has potential to achieve 5% plus growth: Mayaram

MARKET ANALYSIS

Rising for the fourth straight day, the BSE benchmark Sensex today surged 256 points on buying in IT stocks as the country’s second largest software exporter Infosys posted smart quarterly numbers and raised annual sales forecast, amid a firming global trend.

A firming trend in global stock markets on speculation that US lawmakers would reach an agreement on raising the nation’s debt limit to avoid a default, further supported the uptrend, brokers added.

DAILY PIVOTS

INDEX                  S1       S2        PP         R1      R2
NIFTY                 6059   6022    6083      6120   6144
BANK NIFTY     10403  10185  10526    10745  10867

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