Today’s Stock Market Wrap And Recommendation

The market opens on a mute note. The Sensex is down 20.04 points at 19557.35 while  the Nifty is 5885.50, down 13.35 points . About 175 shares have advanced, 108 shares declined, and 32 shares are unchanged.Indian rupee opened flat at 59.50 per dollar on Tuesday as against Monday's closing value of 59.52. Himanshu Arora of Religare says surge in dollar demand from state-run banks, mainly from oil importers, and demand from custodian banks may support the dollar's uptrend.  According to him, the range for the rupee is seen between 59.30-59.90/USD.The euro was flat above 1.30 to the dollar. The dollar index was just above the 83 mark. Meanwhile, yen remained weak against the dollar.

Stock Market Wrap:

·  Indian markets closed high. Nifty, Sensex up by 0.97% & 0.94% respectively.

·  Asia-Pacific markets remain sluggish after soft data. Hang Seng surged high.

·  Wall St ended weak. GBP Mfg. PMI at 52.5. Dow Futures down by 40 points.

Indian markets intraday rally and closed near the day's high on Monday, led by gains in realty, power and capital goods sectors as institutional investors turned buyers. China manufacturing PMI falls less than expected. Financials lead FTSE bounce back. Nifty up by 56 pts, closed at 5898. Sensex up by 181 pts, closed at 19577. EUR is in green.

Stock Recommendation:

CapitalHeight’s stock recommendation for 02/07/2013 is Bharat Heavy Electricals Ltd. It was in down trend in last months and took support around 162 level. In today’s trading session, it closed with gain of 3.01%. On the daily chart, it made a long white candlestick and 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 162. One can go for long position in Bharat Heavy Electricals above 180. The stock may test level of 197 in near term.

Our recommendation on BHEL Bank is BUY above 180 for the Target of 184/189.

Money CapitalHeight is an ISO 9001-2011 Registered Company. We are a leading Stock Advisory Company, having a strong hold in providing most authentic and accurate Stock Tips & Commodity Tips.

          For 2 Days Free Stock Tips, Live stock calls, stock market recommendation, stock technical view, stock market strategy, stock market planning  please visit our site at www.capitalheight.com  or please call our 24/7 Customer Care Support us at  +91 9993066624,  0731 – 4295950.