MARKET WRAP
Indian markets down for sixth day, Nifty down 141 pts & Sensex down 467 pts.
EUR industrial prod. came up at 2.3% & GBP Halifax HPI came at (-) 1.3%
European markets were down 0.5% - 1.0% while Dow future was down 30 pts.
Indian equity market ended down for sixth consecutive day due to negative global cues and funds pull out by FII. Nifty lost 141.75 pts to end below 5800 at 5762 while Sensex shredded 467.9 pts to end at 19224. European markets were in red with CAC worst, down 38 pts at 3865 & FTSE down 35 pts at5984. Dow future was in red, down 30 pts.
TECHNICAL VIEW
NIFTY
DAILY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NIFTY 6147 6039 5931 5847 5823 5739 5715 5607 5499
OUTLOOK
Trend: - Bearish
Resistance: - 5790, 5845
Support: - 5740, 5690
Strategy: - Sell on highs
BANK NIFTY
DAILY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANK NIFTY 11696 11428 11160 10913 10892 10645 10624 10356 10088
OUTLOOK
Trend: - Bearish
Resistance: - 10890, 11040
Support: - 10560, 10350
Strategy: - Sell on highs
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