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Daily Newsletter-Equity
February 15, 2012 Markets news in Indore,Madhya Pradesh, India, Republic of
Indian equity market sustained and extended its uptrend on the back of positive momentum coupled with lower than expected January inflation data which came at 6.55% vs. 7.47% m/m.
FOR IMMEDIATE RELEASE
Indore,
Madhya Pradesh,
India, Republic of
(Free-Press-Release.com) February 15, 2012 --
MARKET WRAP
Equities extend uptrend, Nifty up 26 pts at 5416 and Sensex 75 pts at 17848.
EUR Zew economic sentiment at (-)8.1, Industrial prod. as expected at (-)1.1%.
European markets were green with FTSE leading; Dow future was up 83 pts.
Indian equity market sustained and extended its uptrend on the back of positive momentum coupled with lower than expected January inflation data which came at 6.55% vs. 7.47% m/m. European market were mixed despite better than expected data with DAX up 11 at 6750, FTSE up marginally; 2 pts at 3387 & CAC down 3 pts at 5902.
TECHNICAL VIEW
NIFTY
OUTLOOK
Trend: - Consolidate
Resistance: - 5480, 5560
Support: - 5340, 5260
Strategy: - Buy on dips
BANK NIFTY
OUTLOOK
Trend: - Consolidate
Resistance: - 10800, 11000
Support: - 10400, 10200
Strategy: - Buy on dips
Stock Recommendation
CapitalHeight’s stock recommendation for 15/02/12 is JSW Steel Future. JSW Steel on the daily chart has broken its downward channel and breached its 200DMA as well which is a bullish signal. The stock is in overall bullish momentum and we expect it to continue. Today it witnessed positive buying and closed at 832.95; gaining more than 14 pts or 1.72%. If it breaks the level of 840 on the daily chart then can test the next resistance of 870 and 905.Our recommendation on JSW Steel future is BUY above 840 for Target of 846 & 855.
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Name: CapitalHeight
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About the author
Money CapitalHeight Research Pvt Ltd is a leading Stock and Commodity Advisory Company, having a strong hold in providing most authentic and accurate Equity Tips as well as Commodity Tips. We are a team of highly qualified and experienced analysts, who de
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