Indian indices loss initial gain & closed negative as data showed that India's trade deficit widened for Nov & also investor prefer to book profit on higher level.
(prHWY.com) December 12, 2012 - Indore, India -- MARKET WRAP FOR Equity
* India market ended lower, Nifty down by 0.17% and Sensex by 0.12%.
* Asian pacific rose excluding Japanese shares ahead U.S. Fed meeting.
* EUR German zew economic sentiment at 6.9, ahead USD trade balance.
Indian indices loss initial gain & closed negative as data showed that India's trade deficit widened for Nov & also investor prefer to book profit on higher level. Nifty down by 9ts settle 5898 & Sensex by 22Pts settle at 19387. Euro Market green with DAX up by 43pts at 7574, CAC by 22pts at 3634 & FTSE by 6pts at 5930, Dow Future up by 34pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5915
SUPP 2: 5850
RES 1: 6040
RES 2: 6095
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12210
SUPP 2: 12000
RES 1: 12650
RES 2: 12845
Stock Recommendation
stock recommendation for 12/12/12 is Bajaj Auto. Major trend in the stock is bullish. Bajaj Auto is consolidating near to all time from few days and formed strong support zone near 1910. Stock is moving up by forming upward channel. In todays trade stock move above its consolidation range and break all time high with good volume and momentum. Stock was up more than 2.22%. In upcoming days we expect stock may move up. One can go for long position in Bajaj Auto above 2007; Bajaj Auto may move to the level of 2060 in near term.
Our recommendation on Bajaj Auto is BUY ABOVE 2007 for the TGT of 2030/ 2060..
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