Indian indices overall breath is negative due to political worries weighed after Bahujan Samaj Party chief sought a rollback of hike in passenger rail fares announced by govt.
(prHWY.com) January 10, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market remains volatile, Nifty & Sensex closed flat with marginal loss.
* Asian market positive on China's Dec exports came better than expectation.
* GBP official Bank Rate 0.5%, Asset Purchase 375B, Dow Future up by 75pts.
Indian indices overall breath is negative due to political worries weighed after Bahujan Samaj Party chief sought a rollback of hike in passenger rail fares announced by govt. Nifty down by 3pts settles at 5968 & Sensex by 3pts at 19663. Euro markets mixed with DAX up by 16pts at 7737, FTSE by 5pts at 6104 & CAC down by 8pts at 3710.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5970
SUPP 2: 5875
RES 1: 6080
RES 2: 6135
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12650
SUPP 2: 12230
RES 1: 13015
RES 2: 13315
Stock Recommendation
stock recommendation for 11/01/2013 is Infosys. Major Trend in the stock is bullish. Infosys is facing resistance from its 200 daily Moving Average from few months and consolidating with positive biasness from last couple of week. In today's trading session stock breaks its trend line support with good volume and momentum. Stock was marginally down ahead of result on 11th Jan 2013. One can go for short position in Infosys below 2305. Infosys may test level of 2215 in near term.
Our recommendation on Infosys is SELL below 2305 for the Target of 2265/ 2215..
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