Today’s Outlook for Equity Market By Money CapitalHeight

Today's Market Wrap:
•Indian markets closed in green. Nifty, Sensex up by 2.81% and 2.75%.
•Asia-Pacific markets went up over positive data & global equity gains.
•DJIA ended up. Italian Prelim CPI at 0.3%. Dow Futures up by 120 pts.

Today’s Equity Market Calls:

•BUY UNITED BREWERIES (LCP 724.4) ABOVE 727 TG-735-745
•BUY JET AIRWAYS (LCP-450.05) ABOVE 452 TG-457-465
•BUY TTK PRESTIGE (LCP-3160.35) ABOVE 3170 TG-3200-3245
•BUY MRF (LCP-12926.15) ABOVE 12950 TG-13000-13060

Today’s Recommendations:

CapitalHeight’s stock recommendation for 01/07/2013 is HDFC Bank. It has been trading down trend from last months and took support around trendline level. In today’s trading session, it closed with gain of 3.09%. On the daily chart, it closed above long term moving average level (200 DMA). Momentum indicator stochastic has also give positive territory. All the indicators are suggesting that we can see some upside movement in the stock. Its short term strong support level is around 620. One can go for long position in HDFC Bank above 674. The stock may test level of 720 in near term.

Our recommendation on HDFC Bank is BUY above 674 for the Target of 682/692.

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