The Indian markets were seen trading in a volatile session last week and closed on a negative note. Nifty and Sensex closed down around 1.2 per cent each. The sectoral gainer forlast week was the one which closed up around 1.4 per cent.The sectoral losers were the metal sector and auto sector, which closed down around 2.8 per cent and 2.2 per cent respectively. Also, last week leading private sector banks faced heavy sell off on money laundering reports. Nifty has minor support at 5860 (100 DMA), and 5826 (14 DMA). Movements below these two levels can cause further down trend to the market. Nifty has resistance at 5935; if Nifty can close above this level for more than one day, then it may test 6005 in the near term.u00a0

Data
The IIP data for January 2013 came out last week. The industrial output data stood at 2.4 per cent, from a year ago. This level stood against the 0.5 per cent in December and well above the estimated level of 1.2 per cent. Manufacturing output, which contributes about 76 per cent of industrial production and 15 per cent of the overall gross domestic product, grew 2.7 per cent in January from a year ago. u00a0The capital goods output fell 1.8 per cent annually in January and the consumer goods production posted an annual growth of 2.8 per cent.