Euro market green with FTSE up by 9pts at 6279, DAX by 2pts at 7599 & CAC by 15pts at 3637.
(prHWY.com) February 28, 2013 - indore, India -- MARKET WRAP FOR Equity
* Indian markets remain positive, Nifty up by 35pts and Sensex by 137pts.
* Asian market volatile on Federal Chairman remarks on Italy's election result.
* EUR retail PMI 44.5, M3 money supply y/y 3.5%, Dow Future up 22pts.
Indian indices edged higher after the Economic Survey 2012-13, presented by FM Mr. P. Chidambaram that Indian economy is likely to grow between 6.1% to 6.7% in 2013-14. Nifty up by 35pts settles at 5797 & Sensex by 137pts at 19152. Euro market green with FTSE up by 9pts at 6279, DAX by 2pts at 7599 & CAC by 15pts at 3637.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5765
SUPP 2: 5685
RES 1: 5885
RES 2: 5950
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11830
SUPP 2: 11550
RES 1: 12230
RES 2: 12550
Stock Recommendation
CapitalHeight's stock recommendation for 28/02/2013 is Jaiprakash Association. JP Association major trend is bearish. From last many trading session it's showing downward trend and has successfully taken support of its trend line and bounce towards recovery from lower level. In today's trading session also it has shown good upward movement with volume and it was up by more than 5.5%. In upcoming session some more upward trend can be expected from here. One can go for long position in JP Association above 73. The stock may test level of 76 in near term.
Our recommendation on JP Association is BUY above 73 for the Target of 74/75.
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