Daily Equity NewsLetter 08-02-2012

CapitalHeight's stock recommendation for 08/02/12 is Jet Airways. Jet airways has made a rounding bottom on the daily chart .

Indore, India (prHWY.com) February 7, 2012 - Stock Recommendation
CapitalHeight's stock recommendation for 08/02/12 is Jet Airways. Jet airways has made a rounding bottom on the daily chart and made a cup and handle break out on the daily chart of which stock rallied today nearly 15% and gained more than 43 Rs. The stock has much more upside left as it has also closed above its 200 DSMA which is a positive signal. If it breaks the level of 352 then can see sharp rally to the level of 380-390 in coming week.

Our recommendation on Jet Airways is BUY above 342 for the Tg of 345 & 350.


MARKET WRAP FOR EQUITY

* Indian market ends moderately down; Nifty down 27 pts, Sensex down 85 pts.
* German Industrial production m/m came more negative at (-) 2.9% vs (-) 0.1%.
* European markets were red with DAX worst; Dow future was down 6 pts.
The market remains negative today, Realty, infra & power remains the biggest losers. Nifty was down 27 pts to settle at 5335 & Sensex was down 85 at 17622. Euro markets were red with DAX down 76 pts at 6689, CAC down 23 pts at 3382 & FTSE down 36 pts to end at 3382. Dow Futures was down 6 pts ahead of Fed chairman Bernanke speech

CH NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 5410, 5450
Support: - 5330, 5250
Strategy: - Sell on high
CH BANK NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 10525, 10679
Support: - 10235, 10130
Strategy: - Buy on dips

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