Daily Equity Report By Market Magnify 19-02-2013

Indian indices eked out small gains & edged higher in volatile trade. Market breadth indicating overall health of the market, was positive.

Indore, India (prHWY.com) February 19, 2013 - MARKET WRAP FOR Equity

* India market remains volatile & closed with gain, Nifty & Sensex up by 0.18%.
* Asian-Pacific closed volatile largely higher on selling pressure last week.
* EUR current account 13.9B, ahead ECB President speaks, Dow Future up 32pt.
Indian indices eked out small gains & edged higher in volatile trade. Market breadth indicating overall health of the market, was positive. Nifty up by 11pts settle at 5898 & Sensex by 33pts settle at 19501. Realty remains biggest gainer. Euro market mixed with CAC by down 8pts at 3653, FTSE by 6pts at 6322 & DAX up by 10pts at 7603.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5865
SUPP 2: 5780
RES 1: 5975
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 19/02/2013 is HDFC Ltd. Major Trend in the stock is bullish. HDFC Ltd is consolidating with negative biasness from couple of months. Stock had taken support from its crucial support level. In today's trading session stock breaks its intraday trend line resistance with good volume and momentum. Stock was up about 1.50% in trade. We expect stock may move up in upcoming days. One can go for long position in HDFC Ltd above 828. The stock may test level of 870 in short term. Our recommendation on HDFC Ltd is BUY above 828 for the Target of 844/ 870.

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Categories: Finance

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