Daily Equity Report By Market Magnify 07-02-2013

Indian indices remains range bound, whereas Sensex hit its lowest level in nearly four weeks, interest rate sensitive stocks extended recent gains on cut lending rates.

Indore, India (prHWY.com) February 7, 2013 - MARKET WRAP FOR Equity

* India markets remains volatile and closed almost flat, Nifty gains 2.30pts.
* Asia Pacific market up on positive cues from Euro & Wall Street overnight.
* EUR German Factory 0.8%, ahead crude oil inventories, Dow Future up 62pts.
Indian indices remains range bound, whereas Sensex hit its lowest level in nearly four weeks, interest rate sensitive stocks extended recent gains on cut lending rates. Nifty up by 2pts settle at 5959 & Sensex down by 20pts settle at 19640. Euro markets mixed with DAX down by 36pts at 7628, CAC by 22pts at 3672 and FTSE up by 20pts at 6303.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5935
SUPP 2: 5865
RES 1: 6010
RES 2: 6085

MM BANK NIFTY OUTLOOK
MM BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12310
SUPP 2: 12110
RES 1: 12735
RES 2: 12960

Stock Recommendation

MarketMagnify stock recommendation for 06/02/2013 is Ambuja Cements. Major Trend in the stock is bullish. Ambuja Cements is consolidating with negative biasness from last few months and also trading above its 200DMA. In today's trading session stock crosses its trend line resistance with good volume and momentum and also closes above it. Stock was up by more than 1.80% in trade. We expect stock see some upside in upcoming days. One can go for long position in Ambuja Cements above
207. The stock may move to the level of 218 in near term.
Our recommendation on Ambuja Cements is BUY above 207 for the Target of 211/ 218.

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Categories: Finance

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