Indian indices ended green in a range bound session on China's growth forecast and positive cues from global peer.
(prHWY.com) December 6, 2012 - Indore, India -- MARKET WRAP FOR Equity
* India market edged higher, Nifty up by 0.19% and Sensex by 0.23%.
* Asian pacific rose on rumor that the Beijing will provide more stimuli.
* GBP services PMI at 50.2, EUR retail sales -1.2%, final services PMI 46.7..
Indian indices ended green in a range bound session on China's growth forecast and positive cues from global peer. Nifty up by 11pts settles at 5900 and Sensex by 43pts settles at 19391. Euro Market trade in green with DAX up by 15pts at 7450, CAC by 05pts at 3586 and FTSE by 11pts at 5880, Dow Future up by 46pts.
CH NIFTY OUTLOOK
NIFTY TREND: BULLISH
NIFTY SPOT LEVELS:
SUPP 1: 5865
SUPP 2: 5780
RES 1: 5985
RES 2: 6075
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - BULLISH
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12000
SUPP 2: 11850
RES 1: 12450
RES 2: 12845
Stock Recommendation
stock recommendation for 06/12/12 is On mobile Global. Major trend in the stock is bearish. On mobile Global is consolidating with negative biasness from a month and last week stock crosses its trend line resistance. In todays trade stock moves above its 200DMA with good volume and momentum and also tries to break swing high resistance of previous rally. Stock was up by more than 6.80%. In upcoming days we expect stock may move up from this level. One can go for long position in On mobile Global above 48; On mobile Global may move to the level of 52 in short term.
Our recommendation on On mobile Global is BUY ABOVE 48 for the TGT of 50/ 52..
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