CapitalHeight's stock recommendation for 07/02/12 is HDIL. HDIL was been in an wedge formation and recently it was on its resistance level but today it has broken its upward resistance line & has shooted up.
(prHWY.com) February 7, 2012 - Indore, India -- Stock Recommendation
CapitalHeight's stock recommendation for 07/02/12 is HDIL. HDIL was been in an wedge formation and recently it was on its resistance level but today it has broken its upward resistance line & has shooted up. HDIL is expected to continue its uptrend and as HDIL was consolidating from last few trading session and in last session it shown upward movement after breaking its resistance level, hence it may continue its bullish trend. HDIL is expected to test the level of 89-90 in the near term continuing which may test the level of 92.
Our recommendation on HDIL is BUY above 87 for Tg of 88 & 90.
MARKET WRAP FOR EQUITY
* Indian market ends moderately up; Nifty was up 36 pts, Sensex up 102 pts.
German Factory orders m/m came at 1.7%; Britain's Halifax HPI m/m at 0.6%.
European markets were red with CAC leading; Dow futures were down 44 pts.
The market remains choppy today, wherever it maintains to close positive. Realty &
Banking were biggest gainers while other indices were volatile. Nifty was up 36 pts to settle at 5362 & Sensex was up 102 at 17707. Euro markets were red with DAX
down 41pts at 6726, CAC down 37 & FTSE down 18pts. Dow Futures was down 44 pts.
CH NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 5400, 5460
Support: - 5330, 5250
Strategy: - Buy on dips
CH BANK NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 10320, 10525
Support: - 10135, 10030
Strategy: - Buy on dips
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