Daily Equity Report By Money CapitalHeight 04-03-2013

Indian indices positive, boosted by the results of private survey showed that India's manufacturing activity picked up pace in Feb 2013.

indore, India (prHWY.com) March 4, 2013 - MARKET WRAP FOR Equity

* Indian markets made a slight recovery, Nifty & Sensex down by 0.44% approx.
* Asia-Pacific market negative by worries over Italy's political issues.
* German retail sales 3.1%, Euro unemployment 11.9%, Dow fut. down by 50pts.

Indian indices positive, boosted by the results of private survey showed that India's manufacturing activity picked up pace in Feb 2013. Nifty up by 27pts settles at 5719 & Sensex by 58pts at 18918. Media & Auto remains biggest gainer. Euro market red with FTSE down by 21pts at 6340, DAX by 60pts at 7680 & CAC by 43pts at 3679.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5645
SUPP 2: 5585
RES 1: 5745
RES 2: 5815

CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11330
SUPP 2: 11040
RES 1: 11830
RES 2: 11990

Stock Recommendation

CapitalHeight's stock recommendation for 04/03/2013 is Allahabad Bank. Allahabad Bank has been in down trend from last many trading session and it has breached its crucial trend line support level, also trading below 200 DMA, it was down by 0.30% and closed near to support level. It's having next crucial support at 136, below it some more down turn expected, one can go for sell on high strategy in it. In short term some more bearish trend can be expected. One can go for short position in Allahabad Bank below 136. The stock may test level of 128 in near term.
Our recommendation on Allahabad Bank is SELL below 136 for the Target of 133/131.

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Categories: Finance

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