Indian indices rose on Monday after strong earnings from blue chip companies such as Larsen & Toubro and TCS Ltd lifted the market sentiment.
(prHWY.com) October 23, 2012 - Indore, India -- MARKET WRAP FOR EQUITY
* India market ended higher, Nifty up by 0.58% & Sensex by 0.59%.
* Asian pacific fell on worse than expected Japan merchandise data.
* India's Fiscal deficit stood at 65.7% of budgetary estimate till Aug 2012.
Indian indices rose on Monday after strong earnings from blue chip companies such as Larsen & Toubro and TCS Ltd lifted the market sentiment. Nifty up by 33pts settles at 5684 and Sensex by 111pts settles at 18682. Euro mixed with DAX down by 7pts at 7373, FTSE up by 6pts at 5901 and CAC by 4pts at 3509, Dow Future up by 28pts...
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5635
SUPP 2: 5560
RES 1: 5765
RES 2: 5840
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 11350
SUPP 2: 11060
RES 1: 11750
RES 2: 11970
Stock Recommendation
stock recommendation for 23/10/12 is TTK Prestige. The major trend in the stock is bullish. TTK Prestige had made double top pattern at the top whose breakdown level is 3125. In todays trade stock closes below its 200DMA and tests its short term trend line support near 3130. We expect stock in upcoming day's will see more down side as it break suggested levels; one can go for the short position in TTK Prestige below 3125. TTK Prestige can test level of 2950 in near terms.
Our recommendation on TTK Prestige is SELL below 3125 for the Tg of 3050 & 2950...
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