Daily Equity Report By Money CapitalHeight 01-02-2013

Indian indices edged lower in choppy trade after data released by US Commerce Dept showed a surprise 4th quarter contraction in US economy the world's biggest economy.

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

* India markets consolidate with negative biasness, Sensex down by 110pts.
* Asia Pacific markets were mixed on investors take out some gains.
* EUR German unemployment -16K & retail sales -1.7%, Dow future down 72pts.
Indian indices edged lower in choppy trade after data released by US Commerce Dept showed a surprise 4th quarter contraction in US economy the world's biggest economy. Nifty down by 21pts settle at 6035 & Sensex by 110pts settle at 19894. Euro markets red with DAX down by 31pts at 7780, CAC by 34pts at 3730 & FTSE by 35pts at 6288.

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 01/02/2013 is PNB. Major Trend in the stock is bullish. PNB is consolidating with negative biasness from last month after taking long term trend line breakout on up side. In today's trading session stock breaks its trend line resistance with good volume and momentum and also formed bullish engulfing pattern. Stock was up by more than 9.00% in trade. We expect stock see some upside in upcoming days. One can go for long position in PNB above 920. The stock may move to the level of 960 in near term.
Our recommendation on PNB is BUY ABOVE 920 for the Target of 940/ 960.

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Tag Words: stock future tips, mcx tips

Categories: Finance

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