Indian indices slipped into red after moving into positive terrain from negative terrain soon after the latest data showed deceleration in headline inflation in January 2013.
(prHWY.com) February 15, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market consolidates with negativity, Nifty down by 36pts & Sensex 56pts.
* Asian markets gains on positive global clue from better economical data.
* EUR flash GDP -0.6%, near US unemployment claims, Dow Future down 47pt.
Indian indices slipped into red after moving into positive terrain from negative terrain soon after the latest data showed deceleration in headline inflation in January 2013. Nifty down by 36pts settle at 5897 & Sensex by 111pts settle at 19497. Euro market down with CAC by 28pts at 3670, DAX by 83pts at 7629 & FTSE by 49pts at 6310.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5865
SUPP 2: 5780
RES 1: 5975
RES 2: 6065
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12250
SUPP 2: 11990
RES 1: 12560
RES 2: 12825
Stock Recommendation
CapitalHeight's Stock recommendation for 15/02/2013 is Sintex. Major Trend in the stock is consolidation. Sintex is consolidating with positive biasness from many months after hitting a 52 week low of 50. In today's trading session stock breaks its trend line support with good volume and momentum and also closes below it. Stock was down about 4.50% in trade. We expect stock may move up in upcoming days. One can go for short position in Sintex below 56. The stock may test level of 52 in near term.
Our recommendation on Sintex is SELL below 56 for the Target of 54/ 52..
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