Daily Equity Report By MarketMagnify 12-02-2013

Indian indices ended lower for the eighth straight session on concern over slowing economic growth & sticky inflation on the domestic front kept hurting the investors' sentiment.

Indore, India (prHWY.com) February 12, 2013 - MARKET WRAP FOR Equity

* India markets fall in choppy trade, Nifty down by 0.10% & Sensex by 0.12%.
* Asian-Market region closed for the Lunar New Year celebration.
* EUR French industrial production at -0.1%, Dow Future up 24pts.
Indian indices ended lower for the eighth straight session on concern over slowing economic growth & sticky inflation on the domestic front kept hurting the investors' sentiment. Nifty down by 5pts settle at 5897 & Sensex down by 24pts settle at 19460.Euro market up with CAC by 19pts at 3668, FTSE by 13pts at 6277 & DAX flat at 7648.

MM NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5865
SUPP 2: 5780
RES 1: 5995
RES 2: 6065

MM BANK NIFTY OUTLOOK
MM BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 12250
SUPP 2: 11990
RES 1: 12560
RES 2: 12825

Stock Recommendation

MarketMagnify stock recommendation for 12/02/2013 is Maruti Suzuki. Major Trend in the stock is bullish. Maruti Suzuki is consolidating from positive biasness in its daily charts from last months and also trading near to its 52 week high. Stock is corrected sharply in last couple of days. In today's trading session stock close near to its short term support level. Stock was down about 1.80% in trade. We expect stock may break this support in upcoming days. One can go for short position in Maruti Suzuki below 1555. The stock may test level of 1505 in short term.
Our recommendation on Maruti Suzuki is SELL below 1555 for the Target of 1535/ 1505.

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Categories: Finance

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