Daily Stock Equity News Letter - 12/11/10

Online, November 12, 2010 (Newswire.com) - Indian equity market dips, Nifty down 81 points and Sensex down 287 points.

Ranbaxy Q3 net profit up at `308 cr & MMTC Q2 net profit down at `40.7 cr.

European markets were down 0.25% - 0.50% while Dow future was down 7 pts.

Indian equity market ended in red during directionless G20 meet & massive selling in S Korea worth $1.9 Bn. as Nifty sliced 81 points to settle at 6194 and Sensex shredded 287 points to end at 20589. Euro markets were down too as G20 struggle on currency dispute, FTSE was down 0.14% & CAC was down 0.47%. Dow future was down 7 pts.

TECHNICAL VIEW

NIFTY
DAILY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NIFTY 6574 6457 6340 6267 6223 6150 6106 5989 5872

OUTLOOK
Trend: - Consolidate
Resistance: - 6240, 6290
Support: - 6140, 6090
Strategy: - Sell on highs

BANK NIFTY
DAILY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANK NIFTY 13832 13548 13264 13099 12980 12815 12696 12412 12128

OUTLOOK
Trend: - Consolidate
Resistance: - 13050, 13150
Support: - 12770, 12630
Strategy: - Sell on highs

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