Daily Equity Report By Money CapitalHeight 4-12-2012

India market closed marginally lower, Nifty down by 0.15% & Sensex by 0.18%.

Indore, India (prHWY.com) December 4, 2012 - MARKET WRAP FOR EQUITY

* India market closed marginally lower, Nifty down by 0.15% & Sensex by 0.18%.
* Asian pacific ended lower on mounting worried about US fiscal cliff issues.
* HSBC China's manufacturing Purchasing Managers' Index (PMI) at 50.50.
India market closed marginally lower, Nifty down by 0.15% & Sensex by 0.18%. Asian pacific ended lower on mounting worried about US fiscal cliff issues. HSBC China's manufacturing Purchasing Managers' Index (PMI) at 50.50.
CH NIFTY OUTLOOK
NIFTY TREND: BULLISH
NIFTY SPOT LEVELS:
SUPP 1: 5815
SUPP 2: 5740
RES 1: 5985
RES 2: 6075
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - BULLISH
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12000
SUPP 2: 11850
RES 1: 12450
RES 2: 12845

Stock Recommendation
CapitalHeight's stock recommendation for 04/12/12 is Adani Enterprises. Major trend in the stock is bullish. Adani Enterprises is consolidating from couple of month after having sharp recovery from 52 week low. In today's trade stock breaks its trend line resistance with good volume and momentum and also provides closing above its 200DMA. Stock was up by more than 8.00%. In upcoming days we expect stock may move up from this level. One can go for long position in Adani Enterprises above 262; Adani Enterprises may move to the level of 278 in near term.
Our recommendation on Adani Enterprises is BUY ABOVE 262 for the TGT of 268/ 278.
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Categories: Finance

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