Daily Equity Report By Money CapitalHeight 30-01-2013

Indian indices ended lower on profit booking in interest rate sensitive stocks like banking and auto after Reserve Bank of India announced 25 basis-point cut in repo rate.

Indore, India (prHWY.com) January 30, 2013 - MARKET WRAP FOR Equity

* India market edged lower in choppy trade, Nifty and Sensex down by 0.50%.
* Asia-Pacific rose as manufacturers' confidence in South Korea increased.
* EUR Gfk German consumer climate at 5.80. Dow Future down by 27pts...
Indian indices ended lower on profit booking in interest rate sensitive stocks like banking and auto after Reserve Bank of India announced 25 basis-point cut in repo rate. Nifty down by 24pts settle at 6049 & Sensex by 112pts settle at 19990. Euro markets red with DAX down by 21pts at 7811, CAC by 10pts at 3770 & FTSE flat at 6294.

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
stock recommendation for 30/01/2013 is Adani Ports. Major Trend in the stock is bullish. Adani Ports is consolidating with negative biasness from last month after crossing its 200DMA. In today's trading session stock had break its trend line resistance and move up with good volume and momentum. Stock was up by more than 7.00% in trade. We expect stock may see some upside in upcoming days. One can go for long position in Adani Ports above 149. Adani Ports may move to the level of 155 in near term.
Our recommendation on Adani Ports is BUY ABOVE 149 for the Target of 152/ 155.

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Categories: Finance

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