Daily Equity Report By Money CapitalHeight 5-11-2012

Indian indices extended gains for the third consecutive session and closed near the level of 5700 on back of positive cues from global market.

Indore, India (prHWY.com) November 4, 2012 - MARKET WRAP FOR EQUITY

* India market edged higher, Nifty up by 0.93% & Sensex by 0.1.04%.
* Asian pacific advanced as data showed U.S. employment beat estimate.
* USD unemployment rate at 7.9% & non-farm employment change at 171K..

Indian indices extended gains for the third consecutive session and closed near the level of 5700 on back of positive cues from global market. Nifty up by 22pts settles at 5642 & Sensex by 56pts settles at 18561. Euro Market mixed with DAX up by 10 at 7345, CAC down by 02pts at 3472 & FTSE by 7pts at 5855, Dow Future down by 04pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5650
SUPP 2: 5570
RES 1: 5765
RES 2: 5835
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11260
SUPP 2: 10950
RES 1: 11750
RES 2: 12050
Stock Recommendation
stock recommendation for 5/11/12 is Arvind. The major trend in stock is bullish. Arvind had shown sharp recovery from its 52 week low and move above its 200DMA and consolidating near to it from few weeks. In today's trade stock penetrate its trend line resistance with good volume and momentum and closed above it. Stock was up by more than 1.10% in trade. In upcoming days some more upside is expected in stock. One can go for long position in Arvind above 85; Arvind may move to the level of 91 in near term.
Our recommendation on Arvind is BUY above 85 for the Tg of 88 & 91..
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Categories: Finance

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