Daily Equity Report By Money CapitalHeight 22-10-2012

Indian indices edged lower on profit booking in power, metal and capital goods stock and also on negative cues from global market.

Indore, India (prHWY.com) October 22, 2012 - MARKET WRAP FOR EQUITY

* India market edged lower, Nifty down by 0.60% & Sensex by 0.58%.
* Asian pacific ended lower as earnings drag down Technology shares.
* CAD core CPI at 0.2% m/m & CPI at 0.2% m/m, Dow Future down by 11pts
Indian indices edged lower on profit booking in power, metal and capital goods stock and also on negative cues from global market. Nifty down by 34pts settles at 5684 and Sensex by 109pts settles at 18682. Euro red with DAX down by 113pts at 7414, FTSE by 6pts at 5911 and CAC by 10pts at 3524, Dow Future down by 11pts..
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5635
SUPP 2: 5560
RES 1: 5735
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 22/10/12 is Sun TV Network. The major trend in the stock is sideways. Sun TV is sharply recovered from its 52 week low and move above its 200DMA. Stock is consolidating in a range from last month as stock is facing resistance near 374 levels and having strong support of its 200DMA near 240 levels. In today's trade stock tries to break its 52 week high. We expect stock in upcoming days will move above 374; one can go for the long position in Sun TV above 374. Sun TV can move to the level of 400 in near terms.
Our recommendation on Sun TV is BUY below 374 for the Tg of 385 & 400..
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Categories: Finance

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