Indian indices eked out marginal gains as index heavyweight RIL rose after company said it has raised $800 million via perpetual bonds carrying interest rate of 5.875%.
(prHWY.com) January 31, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market remains volatile and closed with marginal gains of 0.1%.
* Asian leader stocks continued northward journey on global economy recovery.
* EUR Italian 10-y bond 4.17|1.3, ahead US advanced GDP, Dow future up 85pts.
Indian indices eked out marginal gains as index heavyweight RIL rose after company said it has raised $800 million via perpetual bonds carrying interest rate of 5.875%.Nifty up by 6pts settle at 6056 & Sensex by 14pts settle at 20005. Euro markets mixed with DAX down by 12pts at 7837, CAC by 5pts at 3780 & FTSE up by 4pts at 6345.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 6010
SUPP 2: 5930
RES 1: 6115
RES 2: 6180
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12550
SUPP 2: 12230
RES 1: 12885
RES 2: 13150
Stock Recommendation
CapitalHeight's stock recommendation for 31/01/2013 is Asian Paints. Major Trend in the stock is bullish. Asian Paints is consolidating with positive biasness on its all time high from last many trading session. It has successfully taken support of its level at 4263 and again bounces back towards its high. One can go for long position in it above 4495 with stop loss at 4250.The crucial resistance level in the stock is at 4495 once it crosses its level, we can expect good upward trend in it. The stock may move to the level of 4700 in near term.
Our recommendation on Asian Paints is BUY ABOVE 4495 for the Target of 4550/ 4595.
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