Daily Equity Report by CapitalHeight.com –19 December 2011

FOR IMMEDIATE RELEASE
Indore, Madhya Pradesh, India, Republic of (Free-Press-Release.com) December 19, 2011 -- Stock Recommendation

CapitalHeight’s stock recommendation for 19/12/11 is Tata Motors. Tata Motors has been in downtrend from the past few months making lower tops & lower bottoms. Tata Motors also support the 200 day’s moving average after testing it has came down. Tata Motors is also making a head & shoulder pattern and currently is there on its neckline breaking of which may go down sharply. Today stock has made an upper shadow indicating bearishness in the near term, Tata Motors if breaks the level of 167 may go down to 137 and further may go to 105.

Our recommendation on Tata Motors is SELL below 170 for the target of 168 and 165.

MARKET WRAP

Indian market ends significantly down; Nifty down 95 pts, Sensex down 345 pts.

Britain’s Retail sales m/m came at (-) 0.4%; Euro Trade balance came at 0.3B.

European markets were mixed with FTSE leading; Dow Futures was up 38 pts.

Markets were extremely volatile today and the Nifty lost about 161 points from the highs of the day to close with significant losses. Nifty was down 95 pts at 4651 & Sensex down 345 pts to settle at 15491.Euro markets were mixed with DAX down 16 pts at 5714, FTSE up 25 pts at 5425 & CAC down 4 pts at 2995. Dow future was up 38 pts.

TECHNICAL VIEW

NIFTY OUTLOOK

NIFTY TREND: BEARISH
NIFTY SPOT LEVELS:
SUPP 1: 4570, SUPP 2: 4450
RES 1: 4720, RES 2: 4815

BANK NIFTY OUTLOOK

CH BANK NIFTY TREND: BEARISH
BANK NIFTY FUTURE LEVELS:
SUPP 1: 7880, SUPP 2: 7650
RES 1: 8180, RES 2: 8470

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