Daily Equity Report By Money CapitalHeight 11-10-2012

Indian indices extended losses after rating agency Standard & Poor's warned the country still faces a threat of a rating cut despite recent reforms.

Indore, India (prHWY.com) October 11, 2012 - MARKET WRAP FOR EQUITY

* India market ended lower, Nifty down by 0.92% & Sensex by 0.86%.
* Asian pacific edged lower on concern China's economic slowdown.
* EUR Italian industrial production at 1.7%, ahead USD 10-y bond auction.
Indian indices extended losses after rating agency Standard & Poor's warned the country still faces a threat of a rating cut despite recent reforms. Nifty down by 52pts settles at 5652 and Sensex by 162pts settles at 18631. Euro red with DAX down by 7pts at 7226, FTSE by 22pts at 5787 and CAC by 4pts at 3378, Dow Future down by 25pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5635
SUPP 2: 5545
RES 1: 5765
RES 2: 5840
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11250
SUPP 2: 11060
RES 1: 11560
RES 2: 11970
Stock Recommendation
stock recommendation for 11/10/12 is Tata Global Beverages. The major trend in the stock is Bullish. Tata Global had taken support from 61.8% retracement at 80 of its rally from 43 to 139. Recently stock had crossed its all time high and move up with strong volume and movement. In todays trade stock close at highest closing level after a week of consolidation. We expect this rally would continue up to
175 levels (138.2% extension); one can go for the long position in Tata Global above 158. Tata Global can move up to level of 175 in short terms.
Our recommendation on Tata Global is BUY above 158 for the Tgt of 165 & 175.
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Categories: Finance

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