Equity Market: Recommendations and Analysis for 08th october

Technically Nifty is expected to remain consolidate or may continue the bull run; Nifty this week may range 5600-5880. Sensex crossing 19,000 and the NSE Nifty surpassing 5,800.

indore, India (prHWY.com) October 8, 2012 - Market Wrap
Nifty and Sensex gains moderately; up 1% each this week.
U.S. Unemployment claims came at 367K; Unemployment rate 7.8%.
U.S. & Euro market were green; Most Asian markets too made gains this week.
Indian Government's reforms drive has been powering the rally in Indian shares for the
past few sessions. The same story was repeated this week as well, with the BSE
Sensex crossing 19,000 and the NSE Nifty surpassing 5,800. US presidential election,
leadership change in China and Gujarat election are the other important events to keep
on one's radar in the coming weeks and months. Technically Nifty is expected to remain
consolidate or may continue the bull run; Nifty this week may range 5600-5880.
The IMF will lower its forecast for global economic growth to 3.3% this year and 3.6%
in 2013, from earlier projections of 3.4% and 3.9%, respectively
The IMF expects the eurozone economy to shrink by 0.4% this year before recovering
to a 0.2% growth in 2013, China's GDP growth for 2013 has been pegged at 8.2%,
versus a previous forecast of 8.4%, while India's GDP growth is seen at 6% as opposed
to a previous forecast of 6.6%. Brazil's growth has been projected at 4% versus 4.7% .

TECHNICAL OUTLOOK
Nifty
TREND-CONSOLIDATE
RESI 1: 5790,
RESI 2: 5820
SUPP 1: 5720, SUPP 2: 5670
STRATEGY: SELL ON HIGHS


BANK NIFTY
TREND- CONSOLIDATE
RESI 1: 11650,
RESI 2: 11800
SUPP 1: 11400
SUPP 2: 11300
STRATEGY: SELL ON HIGHS

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