Daily Equity Report By Money CapitalHeight 28-11-2012

Indian indices edged higher on support of allies to the government over FDI in retail and positive cues from European market boosted sentiment.

Indore, India (prHWY.com) November 29, 2012 - MARKET WRAP FOR EQUITY

* India market closed near day's high, Nifty up by 1.62% and Sensex by 1.65%.
* Asian pacific rose as European finance ministers cut borrowing cost for Greece.
* GBP revised GDP 1.0% q/q, ahead USD core consumer durable goods orders..
Indian indices edged higher on support of allies to the government over FDI in retail and positive cues from European market boosted sentiment. Nifty up by 91pts settle at 5727 & Sensex by 305Pts settle at 18842. Euro Market trading in green with DAX up by 32pts at 7324, CAC by 10pts at 3510 & FTSE by 23pts at 5809, Dow Future down by 14pts..
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5585
SUPP 2: 5510
RES 1: 5685
RES 2: 5750
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11230
SUPP 2: 10950
RES 1: 11590
RES 2: 11745
Stock Recommendation
stock recommendation for 29/11/12 is Aditya Birla Nuvo. The major trend in stock is sideways. Aditya Birla Nuvo is moving in a broad range from more than 4 year about 720 on lower side and 1020 on higher side. In today's trade stock penetrate this range on higher side with good volume and momentum and also close at 1052 highest level in last 4 years. Stock was up by more than 2.80%. In upcoming days we expect stock may move up from this level. One can go for long position in Aditya Birla Nuvo above 1070; Aditya Birla Nuvo may move to the level of 1145 in short term.
Our recommendation on Aditya Birla Nuvo is BUY ABOVE 1070 for the Tg of 1100/ 1145.
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