Technical Analysis on Equity Market For the Week (21 May - 25 May)
Dow Jones Ind. Avg slips 156.06 pts, Nasdaq also losing 60.35 pts. | Nikkei slides 3%, suffers worst weekly longest losing run since 2001.

Nifty and Sensex both ended with moderate loss this week down less than 1%.
U.S. Unemployment claims came at 367K; Trade Balance came at (-) 51.8B.
This week all international markets were under pressure & given weak ending.
Negative cues from domestic and global markets made the markets vulnerable. The markets remained inconsistent this week, the trend generally being negative. Both benchmark indices closed in the red and barring healthcare, all sectoral indices, too, closed negative. The Sensex and Nifty lost nearly 0.8% over the week. Nifty this week is expected to remain consolidate and may be moving in a range of 4700-5100.
India's Prices continued to spiral upward in April, with inflation climbing to a higherthan-expected 7.23% from 6.89% in March. Primary articles inflation at 9.71% vs 9.62% (MoM), Food group inflation at 10.49% vs 9.94% (MoM), WPI inflation revised to 7.36% vs 6.95% (Prov), Manufacturing inflation at 5.12% vs 4.87% (MoM), Fuel group inflationat 11.03% vs 10.41% (MoM), WPI all commodities index up 2.1% (MoM). Soaring food price was the main culprit, and increase in excise duty and service tax this year.
The mayhem continued this week as well, as sentiment remained jittery over the fate of Greece following the inconclusive elections. The leaders failed to cobble together a new government, prompting the Greek President to declare fresh polls in June. Greece also suffered another rating downgrade from Fitch. Meanwhile, Spain too hogged the limelight due to growing concerns over its fragile banking sector. the rupee plummeted to a record low amid rising risk aversion and worsening external account.
TECHNICAL OUTLOOK
Nifty
Trend: - Consolidate
Resistance: - 5050, 5020
Support: - 4750, 4600
Strategy: - Sell on High
Bank Nifty
Trend: - Consolidate
Resistance: - 9650, 10000
Support: - 8800, 8850
Strategy: - Sell on High
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