Daily Stock Equity Newsletter By CH Financial- 18/11/10

Indian market sliced down 2.15%, Nifty ends below 6k and Sensex below 20k. | Global markets down on Chinas rate hike worries, Shanghai was down 4%.

MARKET WRAP

Indian market sliced down 2.15%, Nifty ends below 6k and Sensex below 20k.

Global markets down on China’s rate hike worries, Shanghai was down 4%.

European markets were down 1 - 1.50% while Dow future was down 50 pts.

Indian equity market sliced down 2.15% tracking global sell off in equities market on fears of China’s rate hike. Nifty sliced 132.9 pts to settle below 6k at 5988 while Sensex shut shop at 19865, down 444.5 pts. Euro markets were down despite better CPI data, up at 1.1% & ZEW economic sentiment up at 13.8 vs. 1.8. Dow future was down 50 pts.

TECHNICAL VIEW

NIFTY
DAILY PIVOT

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NIFTY 6556 6382 6208 6098 6034 5924 5860 5686 5512

OUTLOOK
Trend: - Bearish
Resistance: - 6030, 6075
Support: - 5940, 5885
Strategy: - Sell on highs

BANK NIFTY
DAILY PIVOT

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANK NIFTY 13770 13385 13000 12774 12615 12389 12230 11845 11460

OUTLOOK
Trend: - Bearish
Resistance: - 12650, 12790
Support: - 12420, 12310
Strategy: - Sell on highs

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