Indian indices edged higher after global credit rating agency Moody's Investors Services, retained its Baa3 sovereign rating on India with a stable outlook.
(prHWY.com) January 21, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market ended higher, Nifty up by 18pts and Sensex by 63pts.
* Asian-Pacific remains mixed on ahead Bank of Japan's policy- setting meeting.
* Euro group meetings today, USD having bank holiday, Dow Future up by 32pts..
Indian indices edged higher after global credit rating agency Moody's Investors Services, retained its Baa3 sovereign rating on India with a stable outlook. Sensex & Nifty attained their highest closing level in 3 years. Euro markets green with FTSE up by 17pts at 6171, DAX by 32pts at 7733 and CAC by 11pts at 3752.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 6030
SUPP 2: 5965
RES 1: 6125
RES 2: 6190
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12450
SUPP 2: 12230
RES 1: 12985
RES 2: 13250
Stock Recommendation
stock recommendation for 22/01/2013 is Power Finance Corporation Future. Major Trend in the stock is bullish. PFC is consolidating in a broad range from long time. Stock is holding its 200DMA and having strong support near 180 levels. In today's trading session stock break its trend line and move up with good volume and momentum. Stock was up by more than 2.20% in trade. We expect in upcoming day's stock crosses its swing high resistance and move up. One can go for long position in PFC above 214. PFC may move to the level of 228 in short term.
Our recommendation on PFC Future is BUY above 215 for the Target of 221/ 228.
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