MARKET WRAP FOR EQUITY

• Indian market ends significantly down; Nifty down 52 pts, Sensex down 169 pts.
• Britain’s PPI Input m/m came at (-) 0.8% while PPI Output m/m came to 0.0%.
• European markets were green with DAX leading; Dow Futures was up 78 pts.

The markets traded with negative bias throughout the day banking, capital goods, metal

and realty, played their role in pulling the markets down. Nifty down 52 pts at 5168 &

Sensex was down 169 pts to settle at 17192. Euro markets were green with DAX up 74

pts at 5942, FTSE up 33 pts at 5477, CAC up 27 pts at 3091. Dow future was up 78 pts.

CH NIFTY OUTLOOK

Trend: - Consolidate

Resistance: - 5240, 5320

Support: - 5100, 5000

Strategy: - Sell on high

CH BANK NIFTY OUTLOOK

Trend: - Consolidate

Resistance: - 9500, 9700

Support: - 9150, 8950

Strategy: - Sell on high

 Stock Recommendation

CapitalHeight’s stock recommendation for 14/11/11 is State Bank of India.

State Bank of India has been in downtrend for the past few months making lower tops

and lower bottoms in a downward channel formation and recently made a lower top

today as it has resist its upward resistance line and ended down losing nearly 3.5% in

an second consecutive day fall to end at 1798.35. Stock will continue its downtrend in

near term and may test the level of 1650.

Our recommendation on State Bank of India is SELL below 1781 for Tg of 1760 & 1740.

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