Equity Newsletter 16-August-2012

India market at 22 week high, Nifty up by 0.61% and Sensex by 0.54%

Indore, India (prHWY.com) August 16, 2012 - MARKET WRAP FOR EQUITY

* India market at 22 week high, Nifty up by 0.61% and Sensex by 0.54%
* Asian pacific ended green on reform hopes from global central bank.
* US core retail sales 0.8%, PPI 0.3%, retail sales 1.4%, Dow future up by 26pts.
Indian indices move up in trade after data showed inflation fell to the slowest pace in nearly three years in July 2012, also sentiment boosted on hopes that central bank may cut rates. Nifty up by 32pts settle at 5380 & Sensex by 94pts settle at 17728. Euro markets up with DAX up by 55pts at 6965, CAC by 8pts at 3434,FTSE by 20pts at 5852.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5365
SUPP 2: 5280
RES 1: 5455
RES 2: 5510
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10340
SUPP 2: 10100
RES 1: 10680
RES 2: 11015
Stock Recommendation
stock recommendation for 16/08/12 is Reliance Industry. Reliance Industry has convincingly crosses its 200 moving average last week after consolidating near to its 52 week low for 2 month. In today's trading session it has shown more upside and close above its major trend line resistance with good volume and movement. The stock was up by 1.45%. One can go for the long position in Reliance Industry above 802. Reliance Industry can move to the level of 828 in short terms.
Our recommendation on Reliance Industry is Buy above 802 for the Tg of 816 & 828.

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