Daily Equity Report By Money CapitalHeight 19-10-2012

Indian indices extended intraday rally & close near to high as data showed growth rate in China's industrial production & retail sales accelerated in Sep 2012.

Indore, India (prHWY.com) October 19, 2012 - MARKET WRAP FOR EQUITY

* India market edged higher, Nifty up by 1.03% & Sensex by 0.97%.
* Asian pacific ended higher as Chinese GDP growth matches estimates.
* EUR Spanish 10-y bond auction 5.46/1.9, USD unemployment claims 388K.
Indian indices extended intraday rally & close near to high as data showed growth rate in China's industrial production & retail sales accelerated in Sep 2012. Nifty up by 58pts settle at 5718 & Sensex by 181pts settle at 18791. Euro mixed with DAX up by 20pts at 7414, FTSE down by 9pts at 5900 & CAC by 8pts at 3519, Dow Future up by 9pts.
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 19/10/12 is Axis Bank. The major trend in the stock is bullish. Axis Bank is consolidating above its 200DMA and also near to its major trend line resistance from a month. In today's trade stock had break its consolidation range with good volume and movement. Stock was up by more than 4.10%. We expect stock in upcoming days will see some more up side; one can go for the long position in Axis Bank below 1210. Axis Bank can move to the level of 1280 in short terms.
Our recommendation on Axis Bank is BUY below 1210 for the Tg of 1240 & 1280.
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