• India market edge lower, Nifty down by 0.68% and Sensex by 0.59%.
• Asian pacific ended lower as China’s industrial profit declines.
• EUR German Ifo business climate at 102.3, Dow Future up by 9pts.
Indian indices losses get extend in last trade and close in red on first day of the expiry week as higher crude oil prices sparked concerns about current account deficit. Nifty down by 36pts settles at 5350 & Sensex by 104pts settles at 17678. Euro markets green with DAX up by 17pts at 6988, CAC by 6pts at 3439 & FTSE unchanged at 5776.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5330
SUPP 2: 5270
RES 1: 5465
RES 2: 5555
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10055
SUPP 2: 9860
RES 1: 10380
RES 2: 10625
Stock Recommendation
CapitalHeight’
stocks and in today’s trade stock break its level of 705 with good volume and movement. The stock was down by more than 4.51%. Stock may see further down side up to lower level of channel (595), one can go for the short position in PNB below 674. PNB can test the level of 642 in near terms.
Our recommendation on PNB is SELL below 674 for the Tg of 658 & 642.
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