Weekly Equity Report by www.capitalheight.com 16-01-2012 to 20-01-2012

MARKET WRAP OF WEEKLY EQUITY

·         Indian market ends significantly up with gain of 2.5% throughout the week.

·         U.S. Unemployment claims came at 399K while Trade Balance at (-) 47.8B.

·         Global markets ended green; Asian ranging 1 to 3.2%, US ranging 0.5%-1.4%.

Indian markets closed positive for the 2nd consecutive week with realty, metal & banking being the biggest gainers. This week positive domestic and global cues set the tone for a peaceful end to the week. Next week traders & investors would look forward to the monthly inflation data. Lot more results are scheduled in the coming weeks. Technically Nifty is expected to show strength in the coming weeks as it has close above 200 weeks moving average, Nifty may ranges the level of 4670-5060 next week.

Food inflation witnessed a drop of 2.9% for the week ended Dec31 from 3.36% in the previous week. Inflation in primary articles was up 0.51% compared to 0.1% in the previous week. The industrial output (IIP) for Nov has made a handsome growth, from a negative 4.7% (revised upwards from -5.1%) in Oct to 5.9% in November. The improvement has mainly come in from manufacturing, consumer durables and consumer non-durables. Fuel and power inflation climbed to 14.45% vs. 14.60%.

US markets closed marginally higher in thin trading, led by strength in materials and industrials, erasing losses after several weak economic reports from earlier in the session. European markets ended green ranging (-) 0.23% to 1.9% with CAC leading; U.S markets also made gains with DJIA gaining 0.5%, S&P 500 up 0.9%, NASDAQ ending 1.35% up. Asian markets were green with Hang Seng up 3.3%, Nikkei gains 1.3% Strait times was up 2.8% and Jakarta & Seoul made a gain of 1.7%.

Technical Views

NIFTY

Trend: – Consolidate

Resistance: – 5100, 5300

Support: – 4700, 4500

Strategy: – Sell on High

BANK NIFTY

Trend: – Consolidate

Resistance: – 9350, 9750

Support: – 8300, 7900

Strategy: – Sell on High

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