Daily Equity Report By Money CapitalHeight 27-02-2013

Indian indices slumped on Minister of Indian Railways announced FAC linked revision for freight tariff to be implemented with effect from 1 April-13 in Railway Budget 2013-14.

indore, India (prHWY.com) February 27, 2013 - MARKET WRAP FOR Equity

* Indian markets remain negative, Nifty down by 93pts and Sensex by 316pts.
* Asian-Pacific market declined on inconclusive election result in Italy raise fears.
* CHF employment 4.12M, ahead ECB President speaks, Dow Future down 160.
*
Indian indices slumped on Minister of Indian Railways announced FAC linked revision for freight tariff to be implemented with effect from 1 April-13 in Railway Budget 2013-14. Nifty down by 93pts settles at 5761 & Sensex by 316pts at 19015. Euro market red with FTSE down by 80pts at 6275, DAX by 138pts at 7635 & CAC by 82pts at 3640.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5715
SUPP 2: 5655
RES 1: 5815
RES 2: 5885

CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11750
SUPP 2: 11420
RES 1: 12030
RES 2: 12350

Stock Recommendation

CapitalHeight's stock recommendation for 27/02/2013 is Reliance Industries. Reliance continuously falling after it has made a high of 955, it has taken crucial resistance at 950. Now at present it's trading near to its upward trend line and we can expect some more down fall from here. In today's trading session also stock was down by more than 3.5% and in coming session if it able to breach its trend line in weekly as well as in daily charts than we can expect it to test its next support level at 785. One can go for short position in Reliance Indus below 820. The stock may test level of 785 in near term.
Our recommendation on Reliance Indus is SELL below 820 for the Target of 800/785.

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