Daily Equity Report By Money CapitalHeight 31-12-2012

Indian indices cover yesterday losses and closed positive on buying in energy stocks following reports of a gradual hike in fuel prices.

Indore, India (prHWY.com) December 31, 2012 - MARKET WRAP FOR Equity

* India market edged higher in last hour, Nifty and Sensex both up by 0.65%.
* Asian pacific positive after a report that the Japan's consumer prices fall.
* EUR French consumer spending m/m at 0.2%, Retail PMI at 44.5.
Indian indices cover yesterday losses and closed positive on buying in energy stocks following reports of a gradual hike in fuel prices. Nifty up by 38pts settles at 5908 and Sensex by 121Pts settles at 19444. European Markets red with DAX down by 33pts at 7621, CAC by 32pts at 3641 and FTSE by 16pts at 5938. Dow Future down by 45pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5885
SUPP 2: 5820
RES 1: 6010
RES 2: 6085
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12210
SUPP 2: 12000
RES 1: 12650
RES 2: 12845
Stock Recommendation
stock recommendation for 31/12/12 is Pantaloon Future. Major trend in the stock is bearish. Pantaloon is in formation of price pattern from last month. Stock is having pennant formation in daily charts. In today's trading session stock has taken break out of pattern with good volume and momentum. Stock was up about 6.90%. Stock may move up to level of 320 in about 45-50 days. One can go for long position in Pantaloon above 258. Pantaloon may move to the level of 285 in near term.
Our recommendation on Pantaloon Future is BUY above 258 for the TGT of 270/ 285.
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Categories: Finance

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