Weekly Equity Report by www.capitalheight.com 02-01-2012 to 06-12-2012

MARKET WRAP OF WEEKLY EQUITY

• Indian market ends significantly down with loss of 1.8% throughout the week.
• U.S. Unemployment claims came at 381K; Pending Home sales m/m at 7.3%.
• Global markets ended mixed; Asian ranging (-) 2 to 2%, US in red, Euro in green.

Indian markets on the last week of this year shows, India as among the worst performers globally, particularly among Asian markets. Realty and banking were the top looser this week. Despite of festive season Indian market tumbles on the expiry with Nifty & Sensex both loses 1.8% this week. Nifty is expected to remain consolidate this week, the level of 4530 may proves to be important support breaking which it may slip to 4370, while its resistance is at around 4840 rallying it may test the level of 5040.

Food inflation witnessed a sharp moderation to 0.42% for the week ended Dec17 from 1.8% in the previous week as prices of pulses & cereals become cheaper. Inflation in primary articles rose 2.7% compared to 3.78% in the previous week. India’s Nov Infrastructure output recorded up at 6.8% y/y sharply higher than the annual growth of 3.7% in November last year. Fuel and power inflation eased at 14.37% vs. 15.24% last week it was at 11.85% in the comparable week of the previous year.

Global markets ended mixed for the year; US stocks finished lower and pretty much where they started 2011, as investors blew off the year and stayed largely on the sidelines, making plans for 2012. European markets ended green ranging 0.3% to 1.1% with CAC leading; U.S markets lost marginally with DJIA losing 0.6%, S&P 500 down 0.6%, NASDAQ ending 0.5% down.  Asian markets were confused with Hang Seng, Strait times & Seoul remains red while Nikkei, KLSE & Jakarta made few gains.

Technical Views

NIFTY

Trend: – Consolidate

Resistance: – 4850, 5050

Support: – 4500, 4350

Strategy: – Sell on High

BANK NIFTY

Trend: – Consolidate

Resistance: – 8300, 8800

Support: – 7700, 7200

Strategy: – Sell on High

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