Daily Equity Report By Money CapitalHeight 9-11-2012

Indian indices edged lower on profit-taking on worries about budget negotiations in the United States and also about Europe's economic troubles.

Indore, India (prHWY.com) November 9, 2012 - MARKET WRAP FOR EQUITY

* India market end in red, Nifty down by 0.37% & Sensex by 0.30%.
* Asian pacific ended lower as China Leadership Congress Begins.
* GBP asset purchase facility at 375B and official bank rate at 0.50%.
Indian indices edged lower on profit-taking on worries about budget negotiations in the United States and also about Europe's economic troubles. Nifty down by 21pts settles at 5738 and Sensex by 56Pts settles at 18846. Euro Market green with DAX up by 44 at 7277, CAC by 16pts at 3425 and FTSE by 17pts at 5809, Dow Future up by 26pts.
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: 11360
SUPP 2: 10950
RES 1: 11750
RES 2: 12050
Stock Recommendation
stock recommendation for 9/11/12 is Tata Motors. The major trend in stock is bullish. Tata Motors is consolidating from couple of month with negative biasness after having decent rally from year low. In today's trade stock had taken breakout of its trend line resistance with good volume and momentum and closed above it. Stock was up by more than 5.00% in trade. In upcoming days we expect stock will continue this upward momentum. One can go for long position in Tata Motors above 286; Tata Motors may move to the level of 298 in near term.
Our recommendation on Tata Motors is BUY above 286 for the Tg of 292 & 298..
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Categories: Finance

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