Daily Equity Report By Market Magnify Financial Services 04-02-2013

Indian indices dropped on results of a private survey showed that manufacturing output expanded at its slowest pace in 3months in Jan-13 as new orders grew at a weak pace.

Indore, India (prHWY.com) February 4, 2013 - MARKET WRAP FOR Equity

* India markets remains negative, Nifty down by 36pts & Sensex by 114pts.
* Asia Pacific markets were mixed on positive economic reports from Euro zone.
* USD unemployment 11.7%, Nonfarm employment 157K, Dow future up 146pts.
Indian indices dropped on results of a private survey showed that manufacturing output expanded at its slowest pace in 3months in Jan-13 as new orders grew at a weak pace. Nifty down by 36pts settle at 5999 & Sensex by 114pts settle at 19781. Euro markets green with DAX up by 57pts at 7833, CAC by 41pts at 3773 & FTSE by 70pts at 6347.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 6010
SUPP 2: 5930
RES 1: 6115
RES 2: 6180

MM 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

Market Magnify stock recommendation for 04/02/2013 is Yes Bank. Major Trend in the stock is bullish. Yes Bank is consolidating with negative biasness from last few days and trading near to all time. In today's trading session stock crosses its crucial resistance with good volume and momentum. Stock was up by more than 1.80% in trade. We expect stock see some upside in upcoming days. One can go for long position in Yes Bank above 537. The stock may move to the level of 570 in near term.
Our recommendation on Yes Bank is BUY ABOVE 537 for the Target of 550/ 570.

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Categories: Finance

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