Today's Equity Market Analysis By CapitalHeight-29/09/10

Sept. 29, 2010 - PRLog -- MARKET WRAP

   Markets ended with nominal loss, Nifty down 6 pts & Sensex down 12 pts.  

   Indian economy is expected to grow at 8.50% in 2010 & 8.70% in 2011 – ADB.

   European markets were up 0.40% owing to better European economic data.

Indian markets ended with nominal loss with Nifty holding the 6K level. Nifty touched the low of 5991 but recovered and ended at 6029 while Sensex settled at 20104 after touching 19982. European markets were up 0.40% owing to better French consumer spending data at 2.7% and German consumer climate at 4.9. Dow future was up 30 pts.

TECHNICAL VIEW

NIFTY
DAILY PIVOT

SCRIPT   R4   R3   R2   R1   P   S1   S2   S3   S4
NIFTY   6208     6153   6098   6067   6042   6011   5987   5932   5877

OUTLOOK
         Trend: - Consolidate
     Resistance: - 6075, 6115
     Support: - 5990, 5930
     Strategy: - Buy on dips

BANK NIFTY
DAILY PIVOT

SCRIPT   R4   R3   R2   R1   P   S1   S2   S3   S4
BANK NIFTY   12703   12558   12413   12355   12268   12210   12123   11978   11833


OUTLOOK
           Trend: - Consolidate
     Resistance: - 12400, 12560
     Support: - 12180, 12065
     Strategy: - Buy on dips

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