Daily Equity Report By MARKETMAGNIFY 06-02-2013

Indian indices negative on PSU disinvestment & reduction of promoter stake to meet SEBI mandated minimum public shareholding of 25% for private companies & 10% for state-run firms.

Indore, India (prHWY.com) February 6, 2013 - MARKET WRAP FOR Equity

* India markets remains negative, Nifty down by 0.5% and Sensex by 0.46%.
* Asia Pacific market dropped on destabilizing political revelations in Europe
* EUR Final services PMI 48.6; GBP services PMI 51.5, Dow Future down 62pts.
Indian indices negative on PSU disinvestment & reduction of promoter stake to meet SEBI mandated minimum public shareholding of 25% for private companies & 10% for state-run firms. Nifty down by 30pts settle at 5957 & Sensex by 91pts at 19660. Euro markets up with DAX by 22pts at 7660, CAC by 39pts at 3700, FTSE by 40pts at 6288.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5965
SUPP 2: 5885
RES 1: 6060
RES 2: 6115

MM BANK NIFTY OUTLOOK
MM BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12485
SUPP 2: 12230
RES 1: 12735
RES 2: 12960

Stock Recommendation

Market Magnify stock recommendation for 06/02/2013 is BHEL. Major Trend in the stock is bearish. BHEL is consolidating in a small range from last month and trading near to its crucial support level. Stock is trading near to its 200DMA from past 4-5 months. In today's trading session stock breaks its crucial support level with good volume and momentum. Stock was down by more than 3.50% in trade. We expect stock may correct from this level in upcoming days. One can go for short position in BHEL
below 205. The stock may test level of 198 in near term.
Our recommendation on BHEL is SELL below 210 for the Target of 205/ 198.

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