Daily Equity Report By Money CapitalHeight 29-10-2012

Indian indices ended in red at the week end on weak cues from global market and also investor prefer to book recent gain.

Indore, India (prHWY.com) October 28, 2012 - MARKET WRAP FOR EQUITY

* India market ended lower, Nifty down by 0.72% & Sensex by 0.71%.
* Asian pacific edged lower as earning reported were lower than estimates.
* EUR Spanish unemployment rate at 25.0%, USD advance GDP at 2.0% q/q..
*
Indian indices ended in red at the week end on weak cues from global market and also investor prefer to book recent gain. Nifty down by 41pts settles at 5664 and Sensex by 133pts settles at 18625. Euro mixed with DAX up by 10pts at 7210, CAC by 05pts at 3416 and FTSE down by 19pts at 5785, Dow Future down by 55pts..
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: 11350
SUPP 2: 11060
RES 1: 11750
RES 2: 11970

Stock Recommendation
stock recommendation for 29/10/12 is Mahindra & Mahindra. The major trend in the stock is bullish. M&M is in strong uptrend from many months and hit new all time high of 880 in last month. In todays trade stock made new all time high of 884.50 with good volume and movement. Stock was up about 2.68% in trade and closed above its previous high of 880. We expect stock in upcoming day's stock will continue this upward movement; one can go for the long position in M&M above 885. M&M can test level of 925 in short terms.
Our recommendation on M&M is BUY above 885 for the Tg of 900 & 925.
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Categories: Finance

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