Daily Equity Report By Money CapitalHeight 24-12-2012

Indian indices ended near day's low after U.S. House Republican leaders canceled a planned vote amid delayed budget talks.

Indore, India (prHWY.com) December 24, 2012 - MARKET WRAP FOR Equity

* India market edged lower, Nifty down by 1.16% and Sensex by 1.09%.
* Asian pacific fell as weakness in global market & US fiscal cliff worries.
* GBP current account at -12.6B & GBP public sector net borrowing at 15.3B.
Indian indices ended near day's low after U.S. House Republican leaders canceled a planned vote amid delayed budget talks. Nifty down by 68pts settles at 5847 and Sensex by 211Pts settles at 19242. Euro Market red with DAX down by 43pts at 7629, CAC by 14pts at 3652 and FTSE by 38pts at 5920. Dow Future down by 171pts.
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
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5845
SUPP 2: 5780
RES 1: 5935
RES 2: 6010

Stock Recommendation
stock recommendation for 24/12/12 is Indraprastha Gas. Major trend in the stock is bullish. Indraprastha Gas is consolidating with positive biasness from many months after sharp correction. In today's trading session stock closed near to its short term trend line support and also managed to close above its 200DMA. Stock was down by more than 2.90%. In upcoming session we expect some more correction, if stock fails to hold current level. One can go for short position in Indraprastha Gas below 247. Indraprastha Gas may move to the level of 234 in near term.
Our recommendation on Indraprastha Gas is SELL below 247 for the TGT of 242/ 234.
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Categories: Investment

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