Daily Equity Report By Money CapitalHeight 19-12-2012

Indian indices recover from day low and close positive after no rate cut by Reserve Bank of India in its mid-quarter monetary policy.

Indore, India (prHWY.com) December 19, 2012 - MARKET WRAP FOR Equity

* India market ended higher, Nifty up by 0.66% and Sensex by 0.63%.
* Asian pacific mixed amid uncertainty among investor regarding US budget.
* GBP CPI at 2.7% y/y & PPI input at 0.1% m/m, ahead USD current account..
Indian indices recover from day low and close positive after no rate cut by Reserve Bank of India in its mid-quarter monetary policy. Nifty up by 38pts settles 5896 and Sensex by 120Pts settles at 19364. Euro Market green with DAX up by 33pts at 7597, CAC by 04pts at 3642 and FTSE by 23pts at 5935. Dow Future up by 42pts.
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 19/12/12 is Tata Steel. Major trend in the stock is bearish. Tata Steel is trading in a range from couple of month and also facing resistance from 200DMA. In today's trading session stock crosses trend line resistance with good volume and momentum and also close above its 200DMA. Stock was up by more than 3.8%.. In upcoming session we expect stock will move up. One can go for long position in Tata Steel above 416. Tata Steel may move to the level of 445 in short term.
Our recommendation on Tata Steel is BUY above 416 for the TGT of 424/ 445.

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Categories: Finance

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