Daily Equity Report By Marketmagnify 13-02-2013

Indian indices edged higher in choppy trade as bargain hunting emerged after a sustained slide in share prices over past few trading sessions

Indore, India (prHWY.com) February 13, 2013 - MARKET WRAP FOR Equity

* India markets consolidate with positive biasness, Nifty & Sensex up by 0.5%.
* Asia Pacific closed higher after trimming gain, ahead major economic data.
* CHF CPI m/m -0.3%, GBP CPI y/y 2.7%, Dow Future down 35pts..
Indian indices edged higher in choppy trade as bargain hunting emerged after a sustained slide in share prices over past few trading sessions, whereas disappointing IIP data. Nifty up by 25pts settle at 5923 & Sensex up by 100pts settle at 19561. Euro market up with CAC by 13pts at 3663, FTSE by 21pts at 6297 & DAX by 6pts at 7636.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5865
SUPP 2: 5780
RES 1: 5995
RES 2: 6065


MM BANK NIFTY OUTLOOK
MM BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12250
SUPP 2: 11990
RES 1: 12560
RES 2: 12825

Stock Recommendation

Market Magnify stock recommendation for 13/02/2013 is Sun Pharmaceuticals. Major Trend in the stock is very bullish. Sun Pharma is consolidating from negative biasness in its daily charts from last months and also trading near to its all time high. In today's trading session stock crosses its swing high resistance with good volume and momentum and also closes near to its all time high. Stock was up about 2.50% in trade. We expect stock may move up in upcoming days. One can go for long position in Sun Pharma above 775. The stock may move to the level of 810 in near term.
Our recommendation on Sun Pharma is BUY above 775 for the Target of 790/ 810.

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