Indian indices today ended almost flat amid a weak trend in European markets and political concern surrounding Italy.
(prHWY.com) December 11, 2012 - Indore, India -- MARKET WRAP FOR Equity
* India market close with marginal change, Nifty up & Sensex down in trade.
* Asian pacific mostly trade higher as China data signaled economic recovery.
* EUR French industrial production at -0.7, Italian industrial production at -1.1%..
Indian indices today ended almost flat amid a weak trend in European markets and political concern surrounding Italy. Nifty up by 01pts settle at 5908 and Sensex down by 14Pts settle at 19409. Euro Market red with DAX down by 39pts at 7478, CAC by 20pts at 3585 and FTSE by 14pts at 5899, Dow Future down by 21pts...
CH NIFTY OUTLOOK
NIFTY TREND: BULLISH
NIFTY SPOT LEVELS
SUPP 1: 5915
SUPP 2: 5850
RES 1: 6040
RES 2: 6095
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - BULLISH
BANK NIFTY FUTURE LEVELS
SUPP 1: 12210
SUPP 2: 12000
RES 1: 12650
RES 2: 12845
Stock Recommendation
stock recommendation for 11/12/12 is Bank of India. Major trend in the stock is bullish. Bank of India had underperformed market in recent up move and also trading below its 200DMA. In today's trade stock penetrate its downward moving short term trend line resistance with good volume and momentum. Stock was up more than 4.00%. In upcoming days we expect stock may outperform market and breach its 200DMA in upcoming days. One can go for long position in Bank of India above 308; Bank of India may move to the level of 350 in near term.
Our recommendation on Bank of India is BUY ABOVE 308 for the TGT of 326/ 350.
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