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Weekly Equity Report By Money CapitalHeight 02-01-12 To 06-01-12
Weekly Equity Report By Money CapitalHeight 02-01-12 To 06-01-12
January 2, 2012 Finance news in Indore,Madhya Pradesh, India, Republic of
Indian market ends significantly down with loss of 1.8% throughout the week. U.S. Unemployment claims came at 381K; Pending Home sales m/m at 7.3%.
FOR IMMEDIATE RELEASE
Indore,
Madhya Pradesh,
India, Republic of
(Free-Press-Release.com) January 2, 2012 --
MARKET WRAP OF WEEKLY EQUITY
• Indian market ends significantly down with loss of 1.8% throughout the week.
• U.S. Unemployment claims came at 381K; Pending Home sales m/m at 7.3%.
• Global markets ended mixed; Asian ranging (-) 2 to 2%, US in red, Euro in green.
Indian markets on the last week of this year shows, India as among the worst
performers globally, particularly among Asian markets. Realty and banking were the top
looser this week. Despite of festive season Indian market tumbles on the expiry with
Nifty & Sensex both loses 1.8% this week. Nifty is expected to remain consolidate this
week, the level of 4530 may proves to be important support breaking which it may slip
to 4370, while its resistance is at around 4840 rallying it may test the level of 5040
Food inflation witnessed a sharp moderation to 0.42% for the week ended Dec17 from
1.8% in the previous week as prices of pulses & cereals become cheaper. Inflation in
primary articles rose 2.7% compared to 3.78% in the previous week. India’s Nov
Infrastructure output recorded up at 6.8% y/y sharply higher than the annual growth of
3.7% in November last year. Fuel and power inflation eased at 14.37% vs. 15.24% last
week it was at 11.85% in the comparable week of the previous year.
Global markets ended mixed for the year; US stocks finished lower and pretty much
where they started 2011, as investors blew off the year and stayed largely on the
sidelines, making plans for 2012. European markets ended green ranging 0.3% to 1.1%
with CAC leading; U.S markets lost marginally with DJIA losing 0.6%, S&P 500 down
0.6%, NASDAQ ending 0.5% down. Asian markets were confused with Hang Seng,
Strait times & Seoul remains red while Nikkei, KLSE & Jakarta made few gains.
Technical Views
NIFTY Level
Trend: - Consolidate
Resistance: - 4850, 5050
Support: - 4500, 4350
Strategy: - Sell on High
BANK NIFTY Level
Trend: - Consolidate
Resistance: - 8300, 8800
Support: - 7700, 7200
Strategy: - Sell on High
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