Daily Equity Report By Money CapitalHeight 18-12-2012

Indian indices remains volatile & closed with loss, due to US budget negotiations were put on the back burner on Sunday, 16 December.

Indore, India (prHWY.com) December 18, 2012 - MARKET WRAP FOR Equity

* India market consolidates with negative biasness, Nifty & Sensex down 0.3%.
* Asian pacific closed lower on worries about the fiscal cliff once again took front.
* EUR trade balance 7.9B, Italian trade 2.45B, ahead ECB President Speech.
Indian indices remains volatile & closed with loss, due to US budget negotiations were put on the back burner on Sunday, 16 December. Nifty down by 21pts settles 5857 and Sensex by 73Pts settles at 19244. Euro Market red with DAX flat at 7597, whereas CAC down by 14pts at 3629 and FTSE by 31pts at 5891. Dow Future up by 16pts.
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 18/12/12 is Tata Global. Tata Global shown continuous down fall after having its 52 weeks high, from last few trading session it's consolidating to show some recovery, whereas in today's trading session it has again continue its downward trend and closed with loss of more than 1.5%. It also trading near to its trend line and expected to breach the level in short term. In upcoming session some more bearish trend can be expected. One can go for short position in Tata Global future below 166. Tata Global may move to the level of 161 in short term.
Our recommendation on Tata Global is SELL below 166 for the TGT of 163/ 161.

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