Daily Equity Report By Money CapitalHeight 31-10-2012

Indian indices break its trading range on the lower side and closed down more than 1% as Reserve Bank of India left key policy rates unchanged.

Indore, India (prHWY.com) October 31, 2012 - MARKET WRAP FOR EQUITY

* India market close near day low, Nifty down by 1.19% & Sensex by 1.10%.
* Asian pacific fell as Bank of Japan expand asset purchases by 11 trillion yen.
* EUR Italian 10-y bond auction at 4.92/1.4 and CAD RMPI at 1.3% m/m...

Indian indices break its trading range on the lower side and closed down more than 1% as Reserve Bank of India left key policy rates unchanged. Nifty down by 67pts settles at 5597 and Sensex by 204pts settles at 18430. Euro Market green with DAX up by 72pts at 7275, CAC by 40pts at 3449 and FTSE by 53pts at 5848, Dow Future down by 14pts....
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5590
SUPP 2: 5510
RES 1: 5715
RES 2: 5785
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11060
SUPP 2: 10750
RES 1: 11550
RES 2: 11870
Stock Recommendation
stock recommendation for 31/10/12 is Maruti Suzuki. The major trend in stock is bullish. Maruti Suzuki has being consolidating above its major trend line support from a month In today's trade stock break its consolidation range on upside with good volume and momentum as result for quarter ended Sep 2012 was reported better than expectation. Stock was up by more than 2% in trade. In upcoming days stock may see some more upside. One can go for long position in Maruti Suzuki above 1390; Maruti Suzuki may move to the level of 1460 in near term.
Our recommendation on Maruti Suzuki is BUY above 1390 for the Tg of 1425 & 1460.
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Categories: Finance

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