Live Stock Recommandation By Money CapitalHeight

Stock Market Wrap:

·  Indian markets end in green. Nifty, Sensex up by 1.14% & 1.22% respectively.

·  Asia-Pacific markets remain mixed over mixed data from Europe and China.

·  Wall St ended up. EUR Final GDP at -0.3% (q/q). Dow Future up by 177.5 pts.

Indian markets after briefly slipping down, gained momentum in the last hour of trade and closed up led by gains in Reliance Infrastructure, HCL Tech and ITC taking cues from positive global peers. China shares test two-week highs on strong property. Nifty up by 66 pts, closed at 5836. Sensex up by 233 pts, closed at 19410. EUR is in green.

Stock Recommendation:

CapitalHeight’s stock recommendation for 06/07/2013 is IDFC Ltd. It has been trading in down trend from last few months. Its short term trend is down. In today’s trading session, it closed flat. On the daily chart, it made a long black candlestick and momentum indicator stochastic has also given negative crossover. All the indicators are suggesting that we can see some downside movement in the stock. Its short term strong support level is around 108. One can go for short position in IDFC Ltd below 120. The stock may test level of 110 in near term.

Technical View:

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

SUPP 1: 5770 ; SUPP 2: 5685

RES 1: 5880 ; RES 2: 5950

BANK NIFTY TREND: CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 11275 ; SUPP 2: 11030

RES 1: 11610 ; RES 2: 11830

Our recommendation on IDFC Ltd is SELL below 120 for the Target of 116/112.

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