Daily Equity Report By Money CapitalHeight 6-11-2012

Indian indices edged higher for the fourth consecutive gaining session as defensive stocks such as ITC and drug makers rose on global risk aversion.

Indore, India (prHWY.com) November 5, 2012 - MARKET WRAP FOR EQUITY

* India market gains marginally, Nifty up by 0.11% & Sensex by 0.04%.
* Asian pacific decline as South Korean carmakers Hyundai Motors Co. slide.
* EUR Spanish unemployment change 128.3K, GBP service PMI 50.6.

Indian indices edged higher for the fourth consecutive gaining session as defensive stocks such as ITC and drug makers rose on global risk aversion. Nifty up by 06pts settles at 5704 & Sensex by 07Pts settles at 18762. Euro Market red with DAX down by 45 at 7318, CAC by 34pts at 3457 & FTSE by 35pts at 5832, Dow Future up by 03pts..
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5680
SUPP 2: 5630
RES 1: 5780
RES 2: 5855
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 6/11/12 is Raymond. The major trend in stock is bullish. Raymond is moving sideways from more than two year with in a range of about 100 points. Stock max bottom lies at level of around 320 and max top near 420. Stock is facing resistance from a downward moving trend line and having support of 200 Days Moving Average at 378. In recent period stock had shown some strength and consolidating near to its trend line resistance. So, we expect stock may provide upside breakout in upcoming days. One can go for long position in Raymond above 395; Raymond may move to the level of 417 in near term.
Our recommendation on Raymond is BUY above 395 for the Tg of 405 & 417.Money CapitalHeight Research Pvt Ltd is a leading Stock Advisory Company having a strong hold in providing most authentic and accurate MCX Tips as well as Commodity tips .
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Categories: Finance

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