Euro markets red with DAX down by 32pts at 6917, FTSE by 21pts at 5755 & CAC by 17pts at 3415, Dow Future down by 13pts.
(prHWY.com) August 27, 2012 - Indore, India -- MARKET WRAP FOR EQUITY
* India market close below 5400, Nifty down by 0.53% and Sensex by 0.38%.
* Asian pacific ends in red on lower than expected U.S. economic data.
* GBP revised GDP at -0.5% q/q, USD core durable goods order at -0.4%.
Indian indices edge lower in choppy trade on sign of slower growth in U.S. & China, also Indian derivatives expiry ahead. Nifty down by 28pts settles at 5386 & Sensex by 67pts settles at 17783. Realty was biggest loser. Euro markets red with DAX down by 32pts at 6917, FTSE by 21pts at 5755 & CAC by 17pts at 3415, Dow Future down by 13pts.
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: 10250
SUPP 2: 10100
RES 1: 10680
RES 2: 11015
Stock Recommendation
stock recommendation for 24/08/12 is BGR Energy System. BGR Energy had given breakout of its consolidation near 287 and also moves below its 200 days moving average, recently. The major trend in the stock is bearish. Stock had shown weakness in recent period as it could not move above its 200 moving average and consolidating near to trend line support at 266. In today's trade it had break and close below 266 with good volume and movement. The stock was down by more than 2.45%. Stock may see sharp down side from this level, one can go for the short position in BGR Energy below 263. BGR Energy can test the level of 245 in short terms.
Our recommendation on BGR Energy is SELL below 263 for the Tg of 255 & 245.
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