Daily Equity Report By Money CapitalHeight 21-12-2012

Indian indices edged lower as world stocks fell amid dimming hopes that US politicians will reach a debt deal before the end of the year.

Indore, India (prHWY.com) December 20, 2012 - MARKET WRAP FOR Equity

* India market close lower in choppy trade, Nifty down by 0.2%& Sensex by 0.1%.
* Asian pacific fell as US fiscal cliff negotiation have taken a turn for the worse.
* EUR Italian retail sales at -1.0% m/m, ahead USD unemployment claims.
Indian indices edged lower as world stocks fell amid dimming hopes that US politicians will reach a debt deal before the end of the year. Nifty down by 13pts settles at 5916 and Sensex by 22Pts settles at 19453. Euro Market green with DAX up by 5pts at 7674, CAC by 3pts at 3668 and FTSE by 6pts at 5968. Dow Future up by 11pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5845
SUPP 2: 5780
RES 1: 5985
RES 2: 6050
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 21/12/12 is JSW Steel. Major trend in the stock is bullish. JSW Steel had taken break out of short term trend line resistance and trading above 200DMA. In today's trading session stock had crosses its crucial resistance level with good volume and momentum. Stock was up by more than 2.00%. In upcoming session we expect some more upside in stock from current level. One can go for long position in JSW Steel above 828. JSW Steel may move to the level of 1574 in near term.
Our recommendation on JSW Steel is BUY above 828 for the TGT of 842/ 870.

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