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Markets traded in highly choppy fashion and closed towards their resistance level on a positive note after reversing from their supports. Nifty future took a strong pullback from the support of 5480 and closed above crucial mark of 5550 indicating correction in the coming session. On higher side, 5650 will act as stiff resistance while if it surpasses the near support of 5520 then it may drag towards 54805450. TREND: SIDEWAYS SUPPORT : 5520 & 5480 RESISTANCE: 5600 & 5640 Major Market News: Sensex rallies 188 as IT, banks surge; Rel Comm gains 13%. World shares hit 1-week high after China trade data. Tata Comm secures USD 20 mn deal from Mott MacDonald. Cairn India gross oil & gas production rises 11% in Q4. Siemens secures contract worth Rs 1.04 bn in Bangladesh. Stock Tips Commodity Tips Mcx Tips

Nifty Trend 11 April 2013