Technical Analysis For Equity Market and Equity Tips for 14 May

Nifty ended moderately down losing 37 pts, Sensex was down 127 pts.

Delhi, India (prHWY.com) May 14, 2012 - MARKET WRAP

* Nifty ended moderately down losing 37 pts, Sensex was down 127 pts.

* U.S. Unemployment claims came at 367K; Trade Balance came at (-) 51.8B.

* Euro markets were red with CAC worst losing 32pts, DOW losing 74 pts.

It was a gloomy session for Indian market which shut its day on a negative note following poor March IIP data and weakness in Indian rupee. Global cues remained cheerless as concerns over Greece continued to haunt traders. Euromarkets were red with CAC worst down 35 at 3095, FTSE down 39 at 5505 & DAX down 43 at 6475.

Technical Levels

Nifty

Trend: - Consolidate
Resistance: - 5010,5200
Support: - 4840, 4750
Strategy: - Buy on Dips

Bank Nifty

Trend: - Consolidate
Resistance: - 9500,9700
Support: - 9250, 9000
Strategy: - Sell on High

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