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Weekly Equity Report By Money CapitalHeight 26-12-11 To 30-12-11
Weekly Equity Report By Money CapitalHeight 26-12-11 To 30-12-11
MARKET WRAP OF WEEKLY EQUITY • Indian market ends significantly up with gain of 1.5% throughout the week. • U.S unemployment claims came at 364K; Core durables gds order m/m at 0.3%.
FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 26, 2011 --
MARKET WRAP OF WEEKLY EQUITY
• Indian market ends significantly up with gain of 1.5% throughout the week.
• U.S unemployment claims came at 364K; Core durables gds order m/m at 0.3%.
• Global markets ended significantly up; Asian ranging 0-2%; US gaining 2.5-3.7%.
Indian markets gained momentum during the week & both benchmark indices closed
with significant gains. Oil & gas, auto and banking closed with substantial gains. Inspite
of global & domestic news market managed to gave positive return with Nifty & Sensex
both made around 1.5% 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 4950 rallying it may test the level of 5100.
Food inflation witnessed a sharp moderation to 1.8% for the week ended Dec10 from
4.35% in the previous week as prices of pulses & cereals become cheaper. Inflation in
primary articles rose 3.78% compared to 5.48% in the previous week. Inflation in nonfood
articles, which includes fibres, oilseeds, minerals, was recorded at 2.14% during
the week Fuel and power inflation remained unchanged at 15.24% vs. 15.24% last
week, also there is no change in petrol prices in view of correction in rupee-dollar value.
Global markets turned positive for the year & closed out with 4th consecutive week of
gains as equities extended their rally after a string of unexpectedly strong economic
data. European markets ended green ranging 2.3% to 4.3% with CAC leading; U.S
markets gains 2.5 to 3.7% with DJIA gaining 3.6%, S&P 500 up 3.7%, NASDAQ ending
2.5% up. Asian markets joined the gain rally with Hang Seng gaining 1.9%, Nikkei flat,
Seoul up 1.5%, KLSE gains 2% while Jakarta & Strait times gains 0.6%.
Technical Views
NIFTY Level
Trend: - Consolidate
Resistance: - 4900, 5100
Support: - 4550, 4400
Strategy: - Sell on High
BANK NIFTY Level
Trend: - Consolidate
Resistance: - 8700, 9200
Support: - 7750, 7250
Strategy: - Sell on High
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