Daily Equity Report By Money CapitalHeight 7-11-2012

Indian indices extended gain in late trade on positive cues from European market and also ahead of the presidential election in United States.

Indore, India (prHWY.com) November 7, 2012 - MARKET WRAP FOR EQUITY

* India market rose for fifth straight day, Nifty up by 0.35% & Sensex by 0.29%.
* Asian pacific ended higher ahead of result of the U.S. presidential election.
* GBP manufacturing production at 0.1% m/m and 10-y bond auction at 1.82/1.9.

Indian indices extended gain in late trade on positive cues from European market and also ahead of the presidential election in United States. Nifty up by 20pts settles at 5724 and Sensex by 54Pts settles at 18817. Euro Market red with DAX up by 50 at 7376, CAC by 26pts at 3475 and FTSE by 39pts at 5878, Dow Future up by 38pts...
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5715
SUPP 2: 5630
RES 1: 5835
RES 2: 5910
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11460
SUPP 2: 11150
RES 1: 11750
RES 2: 12050
Stock Recommendation
stock recommendation for 7/11/12 is Ranbaxy. The major trend in stock is sideways. Ranbaxy is consolidating near to 52 week from last couple of month. In today's trade stock break its trend line resistance with good volume and momentum and closed slightly above it. Stock was up about 2.30% in trade. In upcoming days we expect stock will move up. One can go for long position in Ranbaxy above 549; Ranbaxy may move to the level of 580 in near term.
Our recommendation on Ranbaxy is BUY above 549 for the Tg of 560 & 580.
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Categories: Finance

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