Daily Equity Report By Money CapitalHeight 18-10-2012

Nifty up by 12pts settles at 5660 and Sensex by 33pts settles at 18610. Euro green with DAX up by 11pts at 7387, FTSE by 31pts at 5902 and CAC by 08pts at 3509, Dow Future up by 04pts.

Indore, India (prHWY.com) October 18, 2012 - MARKET WRAP FOR EQUITY

* India market closed with minor gains, Nifty up by 0.22% & Sensex by 0.33%.
* Asian pacific edged higher on better than expected U.S. industrial production.
* GBP unemployment rate at 1.7%, USD housing building permits at 0.89M.
Indian indices after rising about 0.50% in early trade ended with small gains as Moody retained Spain's sovereign-debt rating at investment grade. Nifty up by 12pts settles at 5660 and Sensex by 33pts settles at 18610. Euro green with DAX up by 11pts at 7387, FTSE by 31pts at 5902 and CAC by 08pts at 3509, Dow Future up by 04pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5635
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 18/10/12 is DLF. The major trend in the stock is bearish. DLF is consolidating in a broad range from one and a half year. Stock has it short term trend line support near level of 199. In todays trade stock move down below its 200DMA with good volume and movement and also close below it. Stock was down more than 3.30%. We expect stock in upcoming days will see some more correction as it break trend line support; one can go for the short position in DLF below 193. DLF can test level of 187 in near terms.
Our recommendation on DLF is SELL below 198 for the Tg of 193 & 187.
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Categories: Finance

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