Friday 1 March 2013

Equity Market Outlook for Today 01 March


                                                        MARKET WRAP

 Sensex nosedives 1.52%@18,861.54 pts; Nifty tumbled 1.79%@5,693.05 pts. 

 European major indices FTSE, CAC and DAX was up from 0.27% to 0.49%; 

 NASDAQ was up by 1.04% while Dow Jones Ind. Avg. was up by 1.26%. 

Sensex dropped 290.87@18,861.54; Nifty dropped 103.85pts@5,693.050. Today Market nosedives to a three month low after a disappointing union budget including new taxes on the rich and large companies. Shares of SBI, PNB, Axis Bank, Bank of Baroda and ICICI Bank fell between 4-6 %, Reliance Infra fell 9.3%, Reliance Comm fell 11.8%. 




NIFTY OUTLOOK

 Trend: - BEARISH
 Resistance: - 5750, 5820
 Support: - 5640, 5570
 Strategy: - Sell on High



BANK NIFTY OUTLOOK

 Trend: - BEARISH
 Resistance: -11650, 11800
 Support: -11320, 11190
 Strategy: - Sell on High

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