Indian indices hit its highest level since July 2011 ahead of cabinet meeting that is likely to consider reform like opening pension sector to foreign investment.
(prHWY.com) October 5, 2012 - Indore, India -- MARKET WRAP FOR EQUITY
* India market rises for the 4th straight day, Nifty up by 0.98% & Sensex by 1.00%.
* Asian pacific raises as report on US job & service industries beats expectation.
* EUR minimum bid rate at 0.75%, USD unemployment claims at 367K...
Indian indices hit its highest level since July 2011 ahead of cabinet meeting that is likely to consider reform like opening pension sector to foreign investment. Nifty up by 56pts settles at 5787 and Sensex by 188pts settles at 19058. Euro green with DAX up by 2pts at 7324, FTSE by 4pts at 5829 and CAC up by 7pts at 3413. Dow Future up by 45pts.
CH NIFTY OUTLOOK
NIFTY TREND: BULLISH
NIFTY SPOT LEVELS:
SUPP 1: 5765
SUPP 2: 5690
RES 1: 5880
RES 2: 5950
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11580
SUPP 2: 11350
RES 1: 11950
RES 2: 12230
Stock Recommendation
stock recommendation for 05/10/12 is BHEL. The major trend in the stock is bullish. BHEL is having a pennant formation in its daily chart whose upward breakout level is 255 with potential target of 60 points. In recent period stock had shown sharp recovery from its 52-week low and also crosses its 200DMA. In today's trade stock had taken breakout of its pennant (price pattern) with good volume and movement and also formed marubozu candle signaling strength of trend. The stock was up by 6.54%. We expect stock will see more upside in coming days; one can go for the long position in BHEL above 268. BHEL can move to the level of 284 in near terms.
Our recommendation on BHEL is BUY above 268 for the Tgt of 276 & 284
.Money CapitalHeight Research Pvt Ltd is a leading Stock Advisory Company having a strong hold in providing most authentic and accurate MCX Tips as well as Commodity tips .
We are a team of highly qualified and experienced analysts team, who deliver their expertise in providing stock market calls for traders which include tips MCX Tips as well as Commodity tips . All services are provided through SMS and Instant Messenger.
Our research is based around these services:
* Stock tips
* Commodity tips
* Mcx tips.
* Equity tips
* Intraday tips
For 2 Days Free Trial, please visit our site at
http://www.capitalheight.com or please call our 24/7 Customer Care Support us at +91 9993066624, 0731 - 4295 - 950 Or email us at: contact@capitalheight.com
###