Stock Market News For 24 May

The Sensex and Nifty recouped more than half of losses in second half of trade to close 0.5% lower on Wednesday.

Ahmedabad, India (prHWY.com) May 24, 2012 - MARKET WRAP

Nifty ended down losing 24.85 pts, Sensex ended down losing 78.31pts

Dow Jones Ind. Avg down 1.67 pts, Nasdaq down 8.13 pt, S&P500 up 0.64 pts

Nikkei down 1.98%@172.69 pts, SSE Composite Index down by 9.87 pts.

The Sensex and Nifty recouped more than half of losses in second half of trade to close 0.5% lower on Wednesday, even after the Indian rupee fell over 1% to hit a record low of 56.18 to the dollar and more than 2% decline in European markets. European markets like France's CAC, Germany's DAX and Britain's FTSE were down 2% each.

TECHNICAL OUTLOOK

Nifty

Trend: - Consolidate
Resistance: - 4900, 4980
Support: - 4770, 4700
Strategy: - Sell on High

Bank Nifty

Trend: - Consolidate
Resistance: - 9350, 9550
Support: - 8980, 8800
Strategy: - Sell on High


For getting an insight on the report please have a look at the link below

http://www.theequicom.com/reports_files/DAILY%20NEWS%20LETTER%2021.05.2012.pdf

or visit our site here

http://www.theequicom.com/

or call us at 0731-6458808,09200009266

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