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CONTENTS :Market Wrap
Indian Equity Market
Bank Nifty Future
Nifty was closed green up 1.46% Sensex was closed green up 1.47% Last week.
Last week US Unemployment claims 326K & Retail Sales m/m 0.2%.
Euro & U.S markets were green ; while Asian markets were green last week.
was in consolidate trend. Major sector which were up like IT Index, Bank Index &
Pharma Index and Top gainers are Infosys (up 8.08%), HCL Technologies (up 7.34%),
BHEL (up 5.49%), HDFC (up 4.72%), Bharat Petroleum (up 4.57%), NMDC Ltd. (up
4.34%) & Reliance Indus. (down 4.00%). Technically Nifty may expected to down from
this point or a short term range bound this week; Nifty this week may range 6150-6350.
On the economic front,
India's headline inflation eased to a five-month low in
December on lower vegetable prices, providing some relief to the ruling coalition before
a national election and increasing the odds that interest rates will stay on hold this
month. India's fiscal deficit will be contained at 4.8 percent of the gross domestic
product in the current fiscal year ending March, the finance minister said, hinting at
possible cuts in government spending.
On the Global front, The International Monetary Fund expects global growth to pick up
this year, though deflation is a "rising risk" as long as economic growth stays below what
policy-makers believe is optimal. The number of Americans filing new claims for
unemployment benefits fell for a second week last week, suggesting a sharp step-down
in job growth in December was likely to be temporary.
Shekhawati Poly Yarn
Shree Rama Newsprint
Blue Chip India
NRB Industrial Beari
Sterlite Inds. (I)
NET CHANGE CHANGE %
INDIAN EQUITY MARKET
Resistance:- 6360, 6420
Support:- 6135, 6030
Strategy:- SELL ON HIGH
Resistance:- 11280, 11700
Support:- 10555, 10180
Strategy:- SELL ON HIGH
BANK NIFTY WEEKLY
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