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Weekly Stock Equity Newsletter By Capitalheight Financial Services - 15/11/10 To 19/11/10

Weekly Stock Equity Newsletter By Capitalheight Financial Services - 15/11/10 To 19/11/10

Posted by CapitalHeight
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Indian market ends down on global fears, Nifty ended below 6100, down 240 pts.

Sep IIP came down at 4.4% vs. 8.2% while Mfg. o/p came at 4.5% vs. 8.3% (YoY)

Global equity markets ends in red due to European woes & currency imbalances.

Indian equity markets ended down almost 4% this week tracking sell off in global equities market owing to European woes & G20 meet directionless on major currencies balances issue. Nifty ended below 6100 at 6071, down 240 pts or 3.81% and Sensex sliced down 848 pts to end below 20250 at 20156. Bank nifty was worst hit as it lost 729 pts to end at 12537 after touching a fresh all time high of 13320. SBI plunged 13.5%, DLF cracked down 8.5%, while Airtel, BHEL, ICICI bank, ONGC ended down 5-7%.

Index of industrial production dipped for second consecutive month as it came down at 4.4% vs. 8.2% (YoY) & 5.6% (MoM). Mfg output came at 4.5% vs. 8.3% & Consumer goods came at 5.2% vs. 9.1% (YoY). Food price inflation jumped to 12.30% vs. 10.67% & Fuel inflation came up at 12.85% vs. 10.67%. In results, SBI reported Q2 net profit down at `2364 cr. vs. `3051 cr. (YoY) & Tata motors Q2 net profit up at `2223 cr. vs. `2178 cr. jump in volumes on improved market conditions.

Global equity markets ended down in red due to uncertainty on major currencies issue in G20 meet in Seoul and with that, rising inflation in China and rate hike fears prompted the investors around the world to book profits. Dow Jones future shred 228 pts to end at 11155. Later this week, DJIA and S&P fell 106 pts and 16 pts respectively as tech giant Cisco's weak result outlook hit investors sentiment. European markets ended down with FTSE ending below 5800 at 5796 and CAC at 3831 due to weaker Euro economy data.



INDICES R4 R3 R2 R1 P S1 S2 S3 S4
NIFTY 6994 6714 6434 6253 6154 5973 5874 5594 5314

Trend:- Consolidate
Resistance:- 6170, 6280
Support:- 5960, 5880
Strategy:- Sell on highs


SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANK NIFTY 15238 14419 13600 13061 12781 12242 11962 11143 10324

Trend:- Consolidate
Resistance:- 12700, 13010
Support:- 12250, 12000
Strategy:- Sell on highs

CapitalHeight Financial Services is a leading Financial Advisory Company with a strong presence among all Stock Brokers & Traders.

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