Daily Equity Report by CapitalHeight.com –26 December 2011

FOR IMMEDIATE RELEASE
Indore, Madhya Pradesh, India, Republic of (Free-Press-Release.com) December 25, 2011 -- Stock Recommendation

CapitalHeight’s stock recommendation for 26/12/11 is TTK Prestige. TTK Prestige has been in downtrend from the past few months making lower tops & lower bottoms. TTK Prestige is following a symmetrical triangle pattern, after testing its upper resistance line came down. The stock is ready to test its lower support level of its triangle and if it breaks its lower trend line then it may crashed down. Also it has break its 200 DMA then may go down from this level. Today TTK Prestige has lost more than 2% and has made an long bearish candle indicating weakness in the near term, The stock is expected to test the level of 2420 in the near term & if breaks the level of 2375 then may test the level of 2220.

Our recommendation on TTK Prestige is SELL below 2490 for Target of 2470 & 2440.

MARKET WRAP

Indian market ends significantly down; Nifty down 20 pts, Sensex down 75 pts.

U.S Unemployment claims came at 364K; Existing Home sales came at 4.42M.

European markets were green with CAC leading; Dow Futures was up 39 pts.

The markets remained volatile today and after making substantial upside in morning, they came down sharply to close with moderate declines. Nifty was down 20 pts at 4714 & Sensex down 75 pts to settle at 15738. Euro markets were green with DAX up 24 pts at 5876, FTSE up 56 pts at 5512 & CAC up 36 pts at 3107. Dow future was up 39 pts.

TECHNICAL VIEW

NIFTY OUTLOOK

NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 4645, SUPP 2: 4550
RES 1: 4780, RES 2: 4855

BANK NIFTY OUTLOOK

CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 8265, SUPP 2: 8080
RES 1: 8480, RES 2: 8720

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