Nifty up by 3pts settle at 5415 & Sensex by 4pts settles at 17850. Euro markets green with DAX up by 8pts at 7025, FTSE by 21pts at 5795, CAC by 3pts at 3464. Dow Future up by 21pts.
(prHWY.com) August 24, 2012 - Indore, India -- MARKET WRAP FOR EQUITY
* India market ended flat, Nifty up by 0.05% and Sensex by 0.02%.
* Asian pacific up on speculation US and China will ease monetary policy.
* EUR German flash manufacturing at 45.1, ahead US unemployment claims.
Indian indices close with marginal gains in volatile trade on speculation central bank in the US and China will ease monetary policy amid signs growth is slowing. Nifty up by 3pts settle at 5415 & Sensex by 4pts settles at 17850. Euro markets green with DAX up by 8pts at 7025, FTSE by 21pts at 5795, CAC by 3pts at 3464. Dow Future up by 21pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5365
SUPP 2: 5290
RES 1: 5465
RES 2: 5555
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10340
SUPP 2: 10100
RES 1: 10680
RES 2: 11015
Stock Recommendation
stock recommendation for 24/08/12 is Chambal Fertilizer an Chemicals. Chambal Fertilizer has been consolidating near to its lows after correcting from its all time high of 118 last year. The major trend in the stock is bullish. In recent period, movement of stock is downward and breaches all its crucial support level and headed to next major trend line support at 66. The stock was down by more than 1.60%
in trade. One can go for the short position in Chambal Fertilizer below 66. Chambal Fertilizer can test the level of 61 in short terms.
Our recommendation on Chambal Fertilizer is SELL below 66 for the Tg of 63 & 61
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