The Indian indices positive after FM Pranab Mukherjee declared that the application of GAAR deferred by 1 year & implemented from 1 April 2013.
(prHWY.com) May 8, 2012 - INDORE, India -- MARKET WRAP FOR EQUITY
 Indian market positive on GAAR policy review,Nifty up by 27pts &Sensex 81pts.
 Asia-Pacific market red on uncertainty about Europe's to solve its debt crisis.
 EUR sentix investor confidence -24.5, CHF CPI 0.1%, Dow future down 195pts.
The Indian indices positive after FM Pranab Mukherjee declared that the application of GAAR deferred by 1 year & implemented from 1 April 2013. Nifty up 27pts settles at 5114 & Sensex by 81pts settles at 16912.Euro markets were red, DAX down 36pts at 6525, FTSE by 111pts at 5655 & CAC up by 5pts at 3167.Dow Futures down 195pts
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5085
SUPP 2: 5000
RES 1: 5185
RES 2: 5245
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10015
SUPP 2: 9830
RES 1: 10033
RES 2: 10250
Stock Recommendation
CapitalHeight's stock recommendation for 08/05/12 is Titan Indus. Titan Indus is in major bullish trend, and after showing a profit booking in the stock it again bounce from its support level of 227 to continue its trend. In today's trading session also it shown positive rally. The stock was up more than 3% & made a high of 251. If it is able to cross its resistance level at 252.50 & sustain above it than in upcoming session upward trend can be expected. Titan Indus can test the level of 255-256, and in the near term continuing the trend may test the level of 265.
Our recommendation on Titan Indus is BUY above 253 for the Tg of 257 & 262
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