Daily Equity Report By Money CapitalHeight 28-12-2012

Indian indices edged lower in choppy trade as selling pressure triggered by growth concerns & also monthly expiry in the derivatives segment.

Indore, India (prHWY.com) December 28, 2012 - MARKET WRAP FOR Equity

* India market edged lower in last hour, Nifty down by 0.60% & Sensex by 0.48%.
* Asian pacific ended positive on budget talk for a solution to the fiscal cliff.
* GBP BBA mortgage approvals at 33.6K, ahead USD unemployment claims..
Indian indices edged lower in choppy trade as selling pressure triggered by growth concerns & also monthly expiry in the derivatives segment. Nifty down by 35pts settles at 5870 & Sensex by 93Pts settles at 19323. European Markets green with DAX up by 29pts at 7665, CAC by 27pts at 3679, FTSE by 36pts at 5990. Dow Future up by 21pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5835
SUPP 2: 5750
RES 1: 5965
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 28/12/12 is NHPC. Major trend in the stock is bearish. NHPC is moving up continuously after taking breakout of descending triangle. Stock is moving in an upward channel from last month. In today's trading session stock breaks its channel on upside with good volume and momentum. Stock was up about 4.50%. In upcoming session we expect stock may move up from current level. One can go for long position in NHPC above 26. NHPC may move to the level of 29 in near term.
Our recommendation on NHPC is BUY above 26 for the TGT of 27/ 29.
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Categories: Finance

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