Stock Market Analysis and Prediction for 17 May

Germany's DAX and Britain's FTSE fell 1%, Nasdaq was down to 8.82 pts.

jamnagar, India (prHWY.com) May 17, 2012 - http://www.theequicom.com/reports_files/DAILY%20NEWSLETTER-EQUITY%2015.05.2012.pdf

Technical Levels

Nifty

Trend: - Consolidate
Resistance: - 4920,5000
Support: - 4800, 4720
Strategy: - Buy on Dips

Bank Nifty

Trend: - Consolidate
Resistance: - 9300,9500
Support: - 9000, 8800
Strategy: - Sell on High

MARKET WRAP

* Nifty ended moderately down losing 84.55 pts, Sensex was down 298.16 pts.

* Germany's DAX and Britain's FTSE fell 1%, Nasdaq was down to 8.82 pts.

* Shanghai, Nikkei, Straits Times and Taiwan Weighted were down 1-2%.

Equities plunged and the rupee hit a fresh record low as markets globally felt the tremors of the political upheaval in Greece. The 30-shares Sensex fell to 15,974.60 its lowest level in four months before closing at 16030.09, down 1.83% over the previous close. The Nifty closed at four week low 4,858.25, down 84.55 points or 1.71%



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