Equity Tips For Today

Nifty down by 30pts settles at 5197 & Sensex by 110pts settles at 17103.Euro market red, DAX down 11pts at 6546,CAC by 12pts at 3169 & FTSE by 4pts at 5661.

Indore, India (prHWY.com) July 17, 2012 - MARKET WRAP FOR EQUITY
* India market consolidates with negative biasness,Nifty & Sensex down by 0.6%.
* Asian pacific mixed on caution of Bernanke semiannual testimony before US.
* US core retail sales m/m -0.4%, retail sales m/m -0.5%, Dow future up 113pts.
Indian indices negative on data showed the rate of growth in inflation based on the wholesale price index slowed in June 2012, also slow progress of the annual monsoon rains. Nifty down by 30pts settles at 5197 & Sensex by 110pts settles at 17103.Euro market red, DAX down 11pts at 6546,CAC by 12pts at 3169 & FTSE by 4pts at 5661.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5145
SUPP 2: 5050
RES 1: 5270
RES 2: 5315
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10370
SUPP 2: 10090
RES 1: 10825
RES 2: 11080
Stocck Recommendation
CapitalHeight's stock recommendation for 17/07/12 is Infosys. Infosys is in bearish trend majorly, and at present it has being consolidating on its 52 weeks low level and closed near to it. In today's trading session also it is consolidating with negative biasness & made a low of 2163. The stock was down by more than 3%.In upcoming session some more downward movement can be expected from here to continue its trend. One can go for the short position in Infosys below 2160. Infosys can test the level of 2110-2100 in short terms,& in near term continuing trend may test 2025.
Our recommendation on Infosys is SELL below 2160 for the Tg of 2140 & 2120.

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