Daily Equity Newsletter 22-August-2012

Nifty up by 54pts settle at 5421 & Sensex by 194pts settle at 17885. Euro markets green with DAX up by 29pts at 7062, FTSE by 16pts at 5840 and CAC by19 at 3500.

Indore, India (prHWY.com) August 22, 2012 - MARKET WRAP FOR EQUITY

* India market edge higher, Nifty up by 1.02% and Sensex by 1.09%
* Asian pacific gains after positive cues from Europe, Dow Future up by 25pts.
* GBP public sector net borrowing -1.8B, INB CPI inflation at 8.9% for July 2012..
Indian indices hit its highest level in more than 22 week on growing optimism that the ECB will take steps to bring down borrowing costs for debt-laden European nation. Nifty up by 54pts settle at 5421 & Sensex by 194pts settle at 17885. Euro markets green with DAX up by 29pts at 7062, FTSE by 16pts at 5840 and CAC by19 at 3500.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5365
SUPP 2: 5290
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 22/08/12 is Tata Consultancy Services. Tata Consultancy has been consolidating near to its all time high of 1295 from past four months. The major trend in the stock is bullish and in last trading session it had crosses its resistance level of 1295 with good volume and movement. Stock had made new all time high of 1305 and close near to it. The stock was up by more than 1.64%. One can go for the long position in Tata Consultancy above 1305. Tata Consultancy can test the level of 1328 in near terms.

Our recommendation on TCS is BUY above 1305 for the Tg of 1316 & 1328
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