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Next big resistance at 5,400
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.
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People stop Tata steel plant 'spoilers' in track

Supporters of Tata Steel in Bastar acted as a shield to prevent Communist Party of India (CPI) leaders and environment experts to visit the project affected villages and meet the people. The CPI leaders along with environment experts from Hyderabad and New Delhi had yesterday organised a public hearing on party"s banner in Badanji village. It is one of the ten villages to be affected by the 5.5 million tonnes per annum (MTpA) Tata Steel plant coming up in Lohandiguda area. - Bhilai Steel gets Rowghat mining lease - CPI (M) plans to do a "Singur" on Mamata - After Cong, CPI(M) goes for austerity - Ratnamani Metals to expand Gandhidham unit capacity - State may appoint consultant for Barunei Muhan port - EIL achieves financial closure of debt for 2.2 mtpa integrated plant "The public hearing under party"s banner was necessitated in the affected village as the one organised by the district administration was held in collectorate that was against the norms," senior CPI leader Chitranjan Bakshi said. Besides Bakshi, CPI state secretary CL Patel, Adivasi Mahasabha"s Indradev Nag, social activist from Delhi Nandini Sunder and environment scientist from Hyderabad Sagar Dhara left Jagdalpur yesterday in the afternoon for Badanji—about 26 km from the district headquarters. The convoy was stopped by a group of 100 people near Palli barrier—about 10 km from Jagdalpur.


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