Nifty down 36pts settles at 4928 & Sensex by 127pts settles at 16292.Euro markets were red, DAX down 22pts at 6495, CAC by 29pts at 3100 & FTSE by 24pts at 5519.Dow Futures down 62pts.
(prHWY.com) May 14, 2012 - Indore, India -- MARKET WRAP FOR EQUITY
* Indian market remains volatile, Nifty down by 36pts & Sensex 127pts.
* EUR German Final CPI m/m 0.2%, US PPI m/m -0.2%, Core PPI m/m 0.2%.
* US weak outlook from Cisco weighed on technology, Dow future down 62pts.
The Indian indices negative on Greece woes & disappointing industrial output data which unexpectedly contracted 3.5% in March V/S 4.1% in Feb. Nifty down 36pts settles at 4928 & Sensex by 127pts settles at 16292.Euro markets were red, DAX down 22pts at 6495, CAC by 29pts at 3100 & FTSE by 24pts at 5519.Dow Futures down 62pts.
CH NIFTY OUTLOOK
NIFTY TREND: BEARISH
NIFTY SPOT LEVELS:
SUPP 1: 4890
SUPP 2: 4840
RES 1: 5030
RES 2: 5090
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 9240
SUPP 2: 8990
RES 1: 9740
RES 2: 9990
Stock Recommendation
CapitalHeight's stock recommendation for 14/05/12 is Tata Global Beverages. Tata Global has formed double top in its daily chart and at present trading on its neckline line which is also its support level of 106.The chart of stock is very weak and in upcoming session we can expect some more bearish trend. In today's trading session also it has formed a strong bearish candle that indicates selling pressure in the stock with good volume. Tata Global can test the level of 106-105, and in the near term continuing the trend may test the level of 100.
Our recommendation on Tata Global is SELL below 108 for the Tg of 106 & 104
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