Forecasting Equity Market Trends with Money CapitalHeight

Asian stocks rebounded from the biggest slump in the regional benchmark in two weeks, and credit risk declined after Alcoa (AA) Inc. started the U.S. earnings season with results that beat analysts’ estimates. Gold jumped the most in a week, the Dollar Index rose and South Korea’s won rallied.

Today’s Equity Market Trend:

The market breadth, indicating the overall health of the market, was strong. On BSE, 612 shares rose and 79 shares fell. A total of 30 shares were unchanged.

At 9:30 IST, the S&P BSE Sensex was up 136.77 points or 0.71% to 19,461.54. The index rose 145.04 points at the day's high of 19,470.61 in early trade. The index gained 74.60 points at the day's low of 19,399.37 in opening trade.

The CNX Nifty was up 44.95 points or 0.77% to 5,856.50. The index hit a high of 5,860.65 in intraday trade. The index hit a low of 5,834.60 in intraday trade.

Asian stocks rose on Tuesday, 9 July 2013, after Alcoa Inc. started the US earnings season with results that beat analysts' estimates. Key benchmark indices in China, Hong Kong, Singapore, Japan, South Korea and Taiwan rose by 0.26% to 1.46%. Indonesia's Jakarta Composite fell 0.25%.

Today’s Equity Market Calls:
·BUY TORRENT PHARMA (LCP 872.85) ABOVE 875 TG-883-895

·BUY AJANTA PHARMA (LCP-983.6) ABOVE 990 TG-997-1010

·BUY HAVELLS (LCP-750.95) ABOVE 753 TG-760-770

·BUY HCL TECH  (LCP-818.8) ABOVE 821 TG-827-835

Today’s Recommendations:

CapitalHeight’s stock recommendation for 09/07/2013 is Bharat Petroleum Corporation Ltd. It has been trading in down trend from last few months. In today’s trading session, it closed down with the loss of 5.56%. On the daily chart, it made a long black candlestick and momentum indicator stochastic is also trading in negative territory. It breached trendline level. All the indicators are suggesting that we can see some downside movement in the stock. Its short term strong support level is around 315. One can go for short position in Bharat Petroleum Corporation below 344. The stock may test level of 325 in near term.

Our recommendation on BPCL is SELL below 344 for the Target of 339/331.

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