Daily Equity Report By Money CapitalHeight 15-10-2012

Indian indices wiped out yesterday gains on disappointing guidance from Infosys Technologies and also negative cues European markets.

Indore, India (prHWY.com) October 15, 2012 - MARKET WRAP FOR EQUITY

* India market fell in a volatile trade, Nifty down by 0.56% & Sensex by 0.69%.
* Asian pacific ended green as U.S. jobless claims fell more than estimation.
* EUR industrial production 0.6%, USD PPI at 1.1% m/m, core PPI at 0.0% m/m.
Indian indices wiped out yesterday gains on disappointing guidance from Infosys Technologies and also negative cues European markets. Nifty down by 32pts settles at 5676 and Sensex by 129pts settles at 18675. Euro red with DAX down by 10pts at 7272, FTSE by 10pts at 5819 and CAC by 5pts at 3408, Dow Future up by 33pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5645
SUPP 2: 5560
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: 11750
RES 2: 11970
Stock Recommendation
stock recommendation for 15/10/12 is Century Textile. The major trend in the stock is sideways. Century had peak up strong upward movement from the beginning of the year. In today's trade stock crosses its previous rally high and short term trend line resistance with good volume and movement and also close above it 200 moving average in weekly chart. We expect this rally would continue in upcoming session; one can go for the long position in Century above 397. Century can move up to level of 447 in short terms.
Our recommendation on Century is BUY above 397 for the Tgt of 421 & 447.
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Categories: Finance

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