Daily Equity Report By Money CapitalHeight 2-11-2012

Indian indices ended higher as market sentiment boosted by a survey showing that India's manufacturing growth inched up in Oct 2012.

Indore, India (prHWY.com) November 2, 2012 - MARKET WRAP FOR EQUITY

* India market end with modest gain, Nifty up by 0.41% & Sensex by 0.30%.
* Asian pacific ended higher as China's manufacturing output expands.
* USD unemployment claims 363K & ADP non-farm employment change 158K.

Indian indices ended higher as market sentiment boosted by a survey showing that India's manufacturing growth inched up in Oct 2012. Nifty up by 22pts settles at 5642 and Sensex by 56pts settles at 18561. Euro Market mixed with DAX marginally down at 7257, CAC by 12pts at 3416 and FTSE up by 33pts at 5816, Dow Future up by 04pts.....
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5630
SUPP 2: 5550
RES 1: 5735
RES 2: 5815
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 2/11/12 is Cipla. The major trend in stock is bullish. Cipla is consolidating from couple of month by forming falling wedge on daily charts and also MACD turned in to buy mode from sell a week before. In today's trade stock break its trend line resistance with good volume and momentum and closed above it. Stock was up by more than 3.30% in trade. In upcoming days some more upside is expected in stock. One can go for long position in Cipla above 377; Cipla may move to the level of 394 in near term.
Our recommendation on Cipla is BUY above 377 for the Tg of 385 & 394.
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Categories: Finance

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