Indian indices eked out small gains, RIL edged higher after the company said its joint venture with BP plans to invest more than $5 billion in the next three-five years.
(prHWY.com) February 21, 2013 - indore, India -- MARKET WRAP FOR Equity
* Indian markets consolidate in a tight range & closed almost flat with small gain.
* Asian-Pacific market closed higher on better than expected quarterly results.
* EUR German PPI at 0.8%, French CPI m/m at -0.5%, Dow Future up 40pt.
Indian indices eked out small gains, RIL edged higher after the company said its joint venture with BP plans to invest more than $5 billion in the next three-five years. Nifty up by 3pts settle at 5943 & Sensex by 7pts settle at 19643. Euro market mixed with FTSE up by 20pts at 6399, DAX by 13pts at 7765 & CAC down by 5pts at 3730.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5885
SUPP 2: 5820
RES 1: 5992
RES 2: 6065
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12250
SUPP 2: 11990
RES 1: 12610
RES 2: 12825
Stock Recommendation
CapitalHeight's stock recommendation for 21/02/2013 is DLF. Major Trend in the stock is bearish. DFL had showed strength in recent past and hit 52 week high last month. Stock had made strong base near 200 levels as consolidate for nearly two years around this level. In today's trading session stock breaks its swing high resistance with good volume and momentum. Stock was up more than 3.60% in trade. We expect stock may move up in upcoming days. One can go for long position in DLF above 282. The stock may test level of 294 in near term.
Our recommendation on DLF is BUY above 281 for the Target of 287/ 294.
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