Daily Equity Report By Money CapitalHeight 8-11-2012

Asian pacific advanced as Barack Obama win U.S. Presidency second time.

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

* India market edged higher, Nifty up by 0.62% & Sensex by 0.45%.
* Asian pacific advanced as Barack Obama win U.S. Presidency second time.
* CHF foreign currency reserves at 424.4B and EUR retail sales at -0.2% m/m..

Indian indices rose for sixth session on Wednesday as sentiment boosted after U.S. President Barack Obama was re-elected. Nifty up by 35pts settles at 5760 and Sensex by 85Pts settles at 18902. Euro Market green with DAX up by 26 at 7403, CAC by 17pts at 3495 and FTSE by 16pts at 5901, Dow Future down by 22pts....
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 8/11/12 is HDFC Ltd. The major trend in stock is bullish. HDFC Ltd is moving sideways from more than two year in a broad range. In last month stock break this range and hit new all time high of 794. In today's trade stock regains its momentum and crosses its previous high with good volume and closed near to high. Stock was up more than 2.00% in trade. In upcoming days we expect stock will continue this upward momentum. One can go for long position in HDFC Ltd above 806; HDFC Ltd may move to the level of 840 in near term.
Our recommendation on HDFC LTD is BUY above 806 for the Tg of 820 & 840.
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Categories: Finance

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