Daily Equity Report By Money CapitalHeight 16-11-2012

Indian indices edged lower on weakness in global market amid concern a budget argument in the U.S. may hold back global growth.

Indore, India (prHWY.com) November 15, 2012 - MARKET WRAP FOR EQUITY

* India market closed flat, Nifty down by 0.63% & Sensex by 0.79%.
* Asian pacific fell due to persistent worries over US fiscal problems.
* EUR flash GDP at -0.1% q/q, ahead USD unemployment claims..
Indian indices edged lower on weakness in global market amid concern a budget argument in the U.S. may hold back global growth. Nifty down by 36pts settle at 5631 and Sensex by 147Pts settle at 18471. Euro Market red with DAX down by 34pts at 7067, CAC by 4pts at 3396 and FTSE by 20pts at 5701. Dow Future up by 24Pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5650
SUPP 2: 5610
RES 1: 5820
RES 2: 5880
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11460
SUPP 2: 11150
RES 1: 11650
RES 2: 12000
Stock Recommendation
stock recommendation for 15/11/12 is Adani Enterprises. The major trend in stock is bearish. Adani is consolidating from last month with in a small range and also shown strength in couple of weak as outperformed market. In today's trade stock had crosses its trend line resistance with good volume and momentum and also close near to high. Stock was up more than 4.90% in trade. In upcoming days we expect stock crosses its 200DMA at 238. One can go for long position in Adani above 238; Adani may move to the level of 260 in near term.
Our recommendation on Adani is BUY below 238 for the Tg of 245 & 260.
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Categories: Finance

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