Daily Equity Report By Money CapitalHeight 03-10-2012

Indian indices advanced on positive cues from European market and also on hope that government will announce more economic reform.

Indore, India (prHWY.com) October 4, 2012 - MARKET WRAP FOR EQUITY

* India market edged higher, Nifty up by 0.27% & Sensex by 0.33%.
* Asian pacific dropped as China, Japan data signal global economic slowdown.
* GBP manufacturing PMI at 48.4, ahead USD fed chairman Bernanke speaks.
Indian indices advanced on positive cues from European market and also on hope that government will announce more economic reform. Nifty up by 15pts settles at 5718 and Sensex by 61pts settles at 18823. Euro markets green with CAC up by 45pts at 3400, DAX by 78pts at 7294 and FTSE by 62pts at 5804, Dow Future up by 62pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5690
SUPP 2: 5610
RES 1: 5830
RES 2: 5890
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11280
SUPP 2: 10850
RES 1: 11630
RES 2: 11950
Stock Recommendation
stock recommendation for 03/10/12 is Yes Bank. The major trend in the stock is bullish. Yes Bank is trading above its 200DMA from more than six month, recently stock had rebound from its 200DMA and move close to its all time high. In today's trade stock crosses its major trend line resistance with good volume and movement. The stock was up by 3.10% and close near today high. We expect stock will see more upside in coming days; one can go for the long position in Yes Bank above 395. Yes Bank can move to the level of 415 in short terms.
Our recommendation on Yes Bank is BUY above 395 for the Tgt of 403 & 415.
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Categories: Finance

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