Daily Equity Report By Money CapitalHeight 26-12-2012

Indian indices closed positive in a volatile day on buying in Auto and IT sector. Index heavyweight such as DLF, Axis Bank and Bharti Airtel also up in trade.

Indore, India (prHWY.com) December 26, 2012 - MARKET WRAP FOR Equity

* India market trade in a tight range, Nifty up by 0.14% & Sensex by 0.07%.
* Asian pacific trading mixed amid uncertainty regarding U.S. fiscal cliff.
* Gold gain on concern about US budget talk, Dow Future down by 37pts.
Indian indices closed positive in a volatile day on buying in Auto and IT sector. Index heavyweight such as DLF, Axis Bank and Bharti Airtel also up in trade. Nifty up by 08pts settles at 5855 and Sensex by 13Pts settles at 19255. Euro Market mixed with DAX down by 35pts at 7636, CAC by 9pts at 3651 and FTSE up by 11pts at 5951.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5815
SUPP 2: 5750
RES 1: 5935
RES 2: 6010
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 26/12/12 is Ranbaxy Lab. Major trend in the stock is bullish. Ranbaxy is consolidating with positive biasness from last months after sharp correction. Stock is facing resistance from its 200DMA and expected to break consolidation range on down side. In today's trading session stock closed near to its trend line support. Stock was closed almost flat in trade. In upcoming session we expect stock move down from current level. One can go for short position in Ranbaxy below 498. Ranbaxy may move to the level of 470 in near term.
Our recommendation on Ranbaxy is SELL below 498 for the TGT of 486/ 470.
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Categories: Finance

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