Equity Tips: commodity tips :Recommendations and Analysis for 12th November

Nifty and Sensex were almost flat; lost 0.20%, 0.40% respectively this week. US Trade Balance were at -41.5B and US Unemployment Claims at 355K. US & Euro markets were red; Asian markets too were also red last week.

indore, India (prHWY.com) November 11, 2012 - Market Wrap

Indian markets ended with red on Friday wiping out more than half of previous day's
gain, Red in all the sectors like as Banks, Pharma, Auto & IT also. Top losers in Market
were Tata Power (-5.1%), Hindalco (-3.7%), L&T (-3.2%), ONGC (-3.2%) and Reliance
Infra (-3.2%). Technically Nifty may is expected to remain consolidate or a short term
range bound movement this week; Nifty t his week may range 5550-5850.

India's largest lender SBI on Friday reported a forecast beating 30% y-o-y jump in its
second quarter July-Sept.net profit at around Rs 3,660 crore, aided by lower provisions
against bad assets & the difference between interest earned and paid out, fell short of
market expectation.SBI shares tanked 4% on Friday to close the day's trading at Rs
2155 on the NSE.Traders pressed the panic button over SBI's rising slippages. The
fiscal deficit was reined in at 2.5% of the GDP in 2007-08, rose to 5.76 % in 2011-12.

TECHNICAL OUTLOOK:

NIFTY:
Trend: -Consolidate
Resistance: - 5800
Support: - 5550, 5
Strategy: - Buy on Dips

BANK NIFTY

Trend:- Consolidate
Resistance: - 1200
Support: - 11300,
Strategy: - Buy on dips

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