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Daily Equity Report by CapitalHeight.com –29 December 2011

December 28, 2011 Investment news in Indore,Madhya Pradesh, India, Republic of

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Indian market ends significantly down; Nifty down 45 pts, Sensex down 146 pts. Japanese Unemployment claims at 4.5% & Retail sales m/m came at (-) 2.3%. European markets were green with FTSE leading

FOR IMMEDIATE RELEASE
Indore, Madhya Pradesh, India, Republic of (Free-Press-Release.com) December 28, 2011 -- Stock Recommendation

CapitalHeight’s stock recommendation for 29/12/11 is Orchid Chemicals. Orchid Chemicals has been in downtrend from the past few months making lower tops & lower bottoms. The stock after making a lower bottom has come up in order to continue to its trend. Orchid Chemicals has also made a head & shoulder pattern and after achieving the target of this pattern it has retraced to its neckline again & currently it is there on its neckline. It is expected that it should resist its lower neckline and may go down again. The stock today has made a long bearish candle indicating bearishness in the near term, Orchid Chemicals is expected to test the level of 128-126 in near term.

Our recommendation on Orchid Chemicals is SELL below 132 for Tg- 130 & 127.

MARKET WRAP

Indian market ends significantly down; Nifty down 45 pts, Sensex down 146 pts.

Japanese Unemployment claims at 4.5% & Retail sales m/m came at (-) 2.3%.

European markets were green with FTSE leading; Dow Futures was up 23 pts.

The markets lost significantly today with banking, metal and oil & gas playing lead roles in pulling the indices down. Nifty was down 45 pts at 4705 & Sensex down 146 pts to settle at 15727. Euro markets were green with DAX flat at 5890, FTSE up 34 pts and CAC up 18 pts at 3120. Dow future was in green; 23 pts at 12242.

TECHNICAL VIEW

NIFTY OUTLOOK

NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 4640, SUPP 2: 4560
RES 1: 4765, RES 2: 4815

BANK NIFTY OUTLOOK

CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 7980, SUPP 2: 7785
RES 1: 8270, RES 2: 8520

Money CapitalHeight Research Pvt Ltd. an ISO 9001-2011.is a Stock Advisory Company, having a strong hold in providing most authentic and accurate Equity Tips as well as Commodity Tips.

We are a team of highly qualified analysts, who deliver their expertise in providing stock market calls for traders which include Stock Tips, Commodity Tips, MCX Tips, Equity Tips and Intraday Tips.

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About the author
Money CapitalHeight Research Pvt Ltd is a leading Stock and Commodity Advisory Company, having a strong hold in providing most authentic and accurate Equity Tips as well as Commodity Tips. We are a team of highly qualified and experienced analysts, who de

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