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Friday, October 18, 2013

DAILY NIFTY MARKET ANALYSIS 18/10/2013

ECONOMY ANALYSIS
Axis Bank up 2% on better-than-expected Q2; net up 21%
To be disciplined in bidding, aiming 26-28% margin: TCS
Eyeing market share gain with new Discover: Rajiv Bajaj
Cyclone, flood toll hits 36; Odisha seeks Rs 1,523cr in aid
Indian frims most transparent in BRICS, Tata tops list’
No hike in visa costs, INR fall led to strong Q2: Mindtree
MARKET ANALYSIS
The Nifty extended intraday losses and closed below 6,050 level taking cues from weak European markets and as bulls took a breather after last week rally.
The 50-share index ended at 6045.85, down 43.20 points or 0.71 per cent. The index touched intraday high of 6,110.75 and a low of 6,032.55.
The foreign institutional investors bought shares worth Rs 1,136.23 crore while domestic institutional investors were net sellers worth Rs 1,035.34 crore on Tuesday as per the provisional data from the National Stock Exchange.
DAILY PIVOTS
INDEX               S1         S2         PP        R1       R2
NIFTY               6010       5982      6060      6090   6140
BANK NIFTY    10268    10200    10342   10410   10484

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