Equity Market: Recommendations and Analysis for 04 June

SSE Composite Index up 0.05%, Nikei down 1.2%, Hang Seng up 0.24%. | Nifty and Sensex both ended with marginal losses this week down 1.6%.

Delhi, India (prHWY.com) June 4, 2012 - Market Wrap

Nifty and Sensex both ended with marginal losses this week down 1.6%.

U.S. Unemployment claims came at 383K; Prelim GDP q/q came at 1.9%.

SSE Composite Index up 0.05%, Nikei down 1.2%, Hang Seng up 0.24%.

Delhi High Court has ruled in favour of Indraprastha Gas that IGL can charge Rs 38.58 for every million British thermal unit for transmission of gas against Rs 104.05 that it charges now. Gujarat Gas Company and Gail have gained 16.8% and 2.67%. India's manufacturing sector slipped in May o/p was impacted by slowing domestic order book.

TECHNICAL OUTLOOK

Nifty

Trend: - Consolidate
Resistance: - 4910, 5000
Support: -4780, 4700
Strategy: - Sell on Highs


BANK NIFTY

Trend: - Consolidate
Resistance: - 9450, 970
Support: - 9000, 88
Strategy: - Sell on Highs

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