MARKET 0UTLOOK 13 August 2012 by marketmagnify.com |
The markets lost moderately during the week. The Sensex was up 2.09% while the Nifty was up 2.00% during the week. Nifty is coming in the range of 5250-5400. In Nifty we can see the strong resistance of 5400 in weekly chart. |
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The markets lost moderately during the week. The Sensex was up 2.09% while the Nifty was up 2.00% during the week. Nifty is coming in the range of 5250-5400. In Nifty we can see the strong resistance of 5400 in weekly chart. We can see triangle formation & it has given breakout at 5290. If Nifty crosses successfully the level of 5400 then we can see the level of 5500-5540.
From the global perspective, US stocks inched down on Friday, the end of a slow summer week, as investors focused on the piecemeal signs that yes, there is still plenty wrong with the world economy. Sure, there were no big developments in the European debt crisis. The second-quarter earnings season is winding down with calm & order, with most companies coming in ahead of profit predictions. But instead of cheering, investors found other things to fret over. China reported sharply lower growth in its exports. The so-called fiscal cliff, when U.S. government spending cuts & higher taxes kick in on Jan. 1, looms larger now that the distraction of earnings season is over. `There are three big elephants in the room,'' said Marty Leclerc, chief investment officer of Barrack Yard Advisors in Bryn Mawr, Pennsylvania. ``A slowdown in Asia growth, the European crisis ... & the U.S. `fiscal cliff.' ``All day Friday, U.S. stocks edged lower but only slightly. By early afternoon, the Dow Jones industrial average, the Standard & Poor's 500 and the Nasdaq were down by small fractions of a percent. The Dow fell 23 to 13,142. The Standard & Poor's 500 index lost three to 1,400. The Nasdaq composite fell nine to 3,010. Chesapeake Energy fell 4 percent, slipping 84 cents to $19.47, after reporting that the government is investigating whether there were antitrust violations related to its purchase of some oil & gas l& in Michigan. Yahoo fell 6 percent, losing 91 cents to $15.11, after revealing that shareholders might not get most of the proceeds from an upcoming sale of part of an investment, as Yahoo had previously planned. Europe, the cause of so much stock market consternation for so many months, was quiet. Shares of many companies there have taken a beating, but Leclerc said he is looking to get in, not out, buying stakes in companies when they are cheap China reported that its export growth slumped to 1 percent in July from more than 11 percent the previous month, largely because of sluggish demand from Europe. It's just the latest sign that China's surge can't last forever: Thursday, the country said that growth had also slowed in auto sales & factory output.
For the week, The Sensex was up 2.09% while the Nifty up 2.00% during the week.
NEWS AFFECTING INDIAN MARKETS
Maruti Suzuki's Manesar Plant may get operational next week
State Bank of India reported a 137 per cent jump in net profit at Rs 3,752 crore for the first quarter but non-performing loans continue to be a cause of concern.
IOC posts historic loss of Rs 22,451 cr, the biggest by a listed company.
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