Indian indices ended little changed today as most investors stayed on the sidelines ahead of the Reserve Bank of India monetary policy decision tomorrow.
(prHWY.com) January 29, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market remain volatile ahead FnO expiry, Nifty & Sensex closed flat.
* Asia-Pacific green as Chinese industrial profits increased for a fourth month.
* EUR M3 money supply at 3.3% y/y, ahead USD core durable goods orders..
Indian indices ended little changed today as most investors stayed on the sidelines ahead of the Reserve Bank of India monetary policy decision tomorrow. Both indices settled flat, Nifty settles at 6074 and Sensex settles at 20103. Euro markets trading almost flat with FTSE at 6284, DAX at 7849 and CAC at 3778. Dow Future up by 5pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 6010
SUPP 2: 5930
RES 1: 6115
RES 2: 6180
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12550
SUPP 2: 12230
RES 1: 12885
RES 2: 13150
Stock Recommendation
CapitalHeight's stock recommendation for 29/01/2013 is Axis Bank. Major Trend in the stock is bullish. Axis Bank is consolidating with positive biasness from last month after crossing its swing high resistance of previous rally. In today's trading session stock had crosses its trend line resistance and move up with good volume and momentum. Stock was up by 2.00% in trade. We expect stock may see some more upside in upcoming days. One can go for long position in Axis Bank above 1430. Axis Bank may move to the level of 1480 in short term.
Our recommendation on Axis Bank is BUY ABOVE 1430 for the Target of 1450/ 1480.
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