Indian indices at highest levels in more than 2years after FM Chidambaram said that the government has decided to defer implementation the GAAR by 1 Apr 2016
(prHWY.com) January 14, 2013 - Indore, India -- MARKET WRAP FOR Equity
* India market remains positive, Nifty up by 73pts and Sensex up by 242pts.
* Asian market positive as appetite for growth-linked assets improved.
* EUR industrial production -0.3%, Italian Industrial -1%, Dow Future up by 67pts.
Indian indices at highest levels in more than 2years after FM Chidambaram said that the government has decided to defer implementation the GAAR by 1 Apr 2016. Data show easing of inflation. Nifty up by 73pts settles at 6024 & Sensex by 242pts at 19906. Euro markets up with DAX by 36pts at 7751, FTSE by 4pts at 6125 & CAC by 14pts at 3720.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5980
SUPP 2: 5915
RES 1: 6090
RES 2: 6165
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12650
SUPP 2: 12230
RES 1: 12985
RES 2: 13250
Stock Recommendation
stock recommendation for 15/01/2013 is DLF Ltd. Major Trend in the stock is bearish. DLF is forming Rounded Bottom (Price reversal pattern) I daily chart from last couple of year. Stock is also trading above its 200DMA. In today's trading session stock breaks its trend line resistance and move above its swing high resistance with good volume and momentum and look like comfortably move to the level of 260. Stock was up more than 7.20%. One can go for long position in DLF above 248. DLF may test level of 260 in short term.
Our recommendation on DLF is BUY above 248 for the Target of 254/ 260..
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