Indian markets Indian markets surged higher due to pull back rally, optimism persists. Wall Street too ends higher in late day bounce, extending a recent trend of buying on dips.
(prHWY.com) March 6, 2013 - indore, India -- MARKET WRAP FOR Equity
* Indian markets remain cherished. Nifty & Sensex up by 1.50% & 1.40%.
* Asia-Pacific markets up. US too closed positive. EURO gives positive data.
* EUR Service PMI comes better whereas China's fell, Dow futures up by 0.80%.
Indian markets Indian markets surged higher due to pull back rally, optimism persists. Wall Street too ends higher in late day bounce, extending a recent trend of buying on dips. Leading EURO nations send positive economic data. Nifty surged by 86 pts and settles at 5784. Whereas, Sensex up by 265 pts & settles at 19143. EURO markets are in green zone.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5665
SUPP 2: 5585
RES 1: 5765
RES 2: 5835
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11620
SUPP 2: 11320
RES 1: 11990
RES 2: 12330
Stock Recommendation
stock recommendation for 06/03/2013 is Maruti Suzuki. Maruti has been trading in down trend from last many trading session and it has took support at 200 DMA which is around 1370. Its strong support level is1350. It was up by 1.95%. It's having near resistance level around 1490, above it we can see some upside movement in the stock. In short term some up trend can be expected. One can go for long position in Maruti above 1450. The stock may test level of 1490 in near term.
Our recommendation on Maruti is BUY above 1450 for the Target of 1465/1485.
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