Daily Equity Report By Money CapitalHeight 01-01-2013

Indian indices ended with marginal loss as Investors remained cautious ahead of the any announcement from US lawmakers towards fiscal cliff.

Indore, India (prHWY.com) January 1, 2013 - MARKET WRAP FOR Equity

* India market ended lower, Nifty down by 0.06% and Sensex by 0.09%.
* Asian pacific positive as Chinese manufacturing data beat estimates.
* GBP housing equity withdrawal at -8.0B q/q, Dow Future up by 29pts..
Indian indices ended with marginal loss as Investors remained cautious ahead of the any announcement from US lawmakers towards fiscal cliff. Nifty down by 3pts settles at 5905 and Sensex by 18Pts settles at 19426. European Markets mixed with DAX down by 43pts at 7612, FTSE by 16pts at 5910 and CAC up by 26pts at 3646.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5910
SUPP 2: 5850
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 01/01/2013 is DLF. Major trend in the stock is bearish. DLF is in formation of price pattern from last month. Stock is having Ascending Triangle formation in daily charts and also holding 200DMA form few months. In today's trading session stock has taken break out of pattern with good volume and momentum. Stock was up about 2.50%. One can go for long position in DLF above 232. DLF may move to the level of 245 in near term.
Our recommendation on DLF is BUY above 232 for the Target of 238/ 245.

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Categories: Finance

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