Daily Equity Report By Money CapitalHeight 14-12-2012

Indian indices falling for the fifth straight day as European stocks fell after Federal Reserve Chairman Ben Bernanke warned of the US fiscal-cliff impact.

Indore, India (prHWY.com) December 14, 2012 - MARKET WRAP FOR Equity

* India market egded lower, Nifty down by 0.62% and Sensex by 0.65%.
* Asian pacific mixed as uncertainty among investor ahead budget negotiation.
* GBP CBI Industrial Order Expectations at -12, Dow Future down by 04pts.
Indian indices falling for the fifth straight day as European stocks fell after Federal Reserve Chairman Ben Bernanke warned of the US fiscal-cliff impact. Nifty down by 36ts settles 5851 and Sensex by 126Pts settles at 19229. Euro Market red with DAX down by 39pts at 7575, CAC by 08pts at 3637 and FTSE by 16pts at 5929..
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5845
SUPP 2: 5760
RES 1: 5965
RES 2: 6035
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12210
SUPP 2: 12000
RES 1: 12650
RES 2: 12845
Stock Recommendation
stock recommendation for 14/12/12 is Hindustan Unilever. Major trend in the stock is bullish. HUL is forming price pattern in daily charts from last three months. Stock is having trend reversal pattern on top of rally. In today's trade stock close near nick line of Head & Shoulder and look like almost completed its pattern. Stock was down about 1.80% in trade. In upcoming days we expect stock may break its nick line for target of 460 in 90-100 days. One can go for short position in HUL below 518 HUL may test level of 484 in near term.
Our recommendation on HUL is SELL below 518 for the TGT of 508/ 484.

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Categories: Finance

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