Daily Equity Report By Money CapitalHeight 08-01-2013

Indian indices lowest closing level in a week as world stocks dropped on Fed Reserve signaled that US central bank could bring quantitative easing to an end this year.

Indore, India (prHWY.com) January 8, 2013 - MARKET WRAP FOR Equity

* India market consolidates with negative biasness,Nifty & Sensex down by 0.5%.
* Asian markets traded sideways, investors booking profit after strong rally.
* CHF Foreign currency reserves 427.2B, EUR PPI -0.2%, Dow future up by 7pts.
Indian indices lowest closing level in a week as world stocks dropped on Fed Reserve signaled that US central bank could bring quantitative easing to an end this year. Nifty down by 27pts settles at 5988 and Sensex by 92pts settles at 19691. Euro markets red with DAX down by 34pts at 7742, CAC by 24pts at 3705 and FTSE by 24pts at 6065.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5970
SUPP 2: 5875
RES 1: 6080
RES 2: 6135
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12650
SUPP 2: 12230
RES 1: 13015
RES 2: 13315

Stock Recommendation
CapitalHeight's stock recommendation for 08/01/2013 is Biocon Ltd. Major Trend in the stock is consolidating. Biocon is moving up from few months along with upward moving trend line support. Stock is also trading above its 200 daily moving average. In today's trading session stock crosses its crucial resistance with good volume and momentum. Stock was up about 3.50%. One can go for long position in Biocon above 305. Biocon may move to the level of 320 in near term.
Our recommendation on Biocon is BUY above 305 for the Target of 312/ 320.

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Tag Words: stock future tips, mcx tips

Categories: Finance

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