Daily Equity Report By Money CapitalHeight 5-12-2012

Indian indices managed to hold some gain in a volatile trade on positive cues from European market.

Indore, India (prHWY.com) December 5, 2012 - MARKET WRAP FOR Equity

* India market edged higher, Nifty up by 0.31% and Sensex by 0.22%.
* Asian pacific ended lower as U.S. manufacturing unexpectedly shrank.
* EUR Spanish unemployment change 74.3K, GBP construction PMI 49.3.
Indian indices managed to hold some gain in a volatile trade on positive cues from European market. Nifty up by 18pts settles at 5889 and Sensex by 42pts settles at 19348. Euro Market trade in green with DAX up by 22pts at 7457, CAC by 26pts at 3592 and FTSE trading almost flat at 5872, Dow Future up by 14pts.
CH NIFTY OUTLOOK
NIFTY TREND: BULLISH
NIFTY SPOT LEVELS:
SUPP 1: 5865
SUPP 2: 5780
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
stock recommendation for 05/12/12 is Zee Entertainment. Major trend in the stock is bullish. Zee Entertainment is consolidating with negative biasness after having a decent rally early this year. Stock breaks its sloping trend line resistance and moving upward by forming raising channel. In today's trade stock breaks its swing high resistance of its previous rally with good volume and momentum and close above it. Stock was up by more than 4.50%. In upcoming days we expect stock may move up from this level. One can go for long position in Zee Entertainment above 211; Zee Entertainment may move to the level of 220 in short term.
Our recommendation on Zee Entertainment is BUY ABOVE 211 for the TGT of 215/ 220.
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