MARKET 0UTLOOK 11 June 2012 by marketmagnify.com |
For the week, The Sensex was up 4.72% while the Nifty up 4.68% during the week. This week market will be violated due to IIP data. |
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The markets lost moderately during the week. The Sensex was up 4.72% while the Nifty was up 4.68% during the week. We can see good support of 5000 in Nifty. I think the Nifty is getting into a range between 4980 and 5170. In daily chart of Nifty we can see double bottom pattern and it has given breakout at 5011 level and following this pattern the target should be 5120-5170.
From the global perspective. US President Barack Obama stressed the economy is "not doing fine," seeking to clarify his earlier comments about the private sector and accusing his Republican rivals of lacking ideas about how to stoke growth and create jobs. Obama said that while corporate profits are strong and companies have been adding jobs, small businesses are having a tough time getting financing and other pockets of the economy need more attention. He said budget-pinched state and local governments need help to avoid teacher and police layoffs, and that Congress should help buoy struggling homeowners and construction workers who remain out of work several years after the financial crisis.
For the week, The Sensex was up 4.72% while the Nifty up 4.68% during the week. This week market will be violated due to IIP data.
NEWS AFFECTING INDIAN MARKETS
China‘s inflation eases to 3.0% in May, lowest since June 2010.
Us economy ‘not doing fine’ action needed.
Greek GDP fails by 6.5 percent in Q1 of 2012.
Reliance Capital exploring merger with Future General
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