MARKET WRAP FOR EQUITY

·         Indian market ends with moderate gain; Nifty up 18 pts, Sensex was up 81 pts.

·         U.S. Nonfarm employment change came at 80K; Unemployment rate at 9.0%.

·         European markets were mixed with DAX worst; Dow Futures was down 46 pts.

Markets made moderate gains today with metal being the top performer other gainers included capital goods & banking. Nifty was up 18 pts at 5284 & Sensex was up 81 pts to settle at 17562. Euro markets were mixed with DAX down 43 pts at 6090, FTSE up 25 pts at 5570, followed by CAC down 9 pts at 3186. Dow future was down 46 pts

CH NIFTY OUTLOOK

Trend: - Consolidate           

Resistance: - 5340, 5450

Support: - 5200, 5080      

Strategy:       - Sell on high

CH BANK NIFTY OUTLOOK

Trend: - Consolidate

Resistance: - 10000, 10200

Support: - 9700, 9500

Strategy: - Sell on high     

Stock Recommendation

Money CapitalHeight’s stock recommendation for 08/Nov/11 is Sun TV.
Sun TV has been in downtrend from the past few months making lower tops & lower bottoms and recently it has made a lower bottom & is set to make new lower top to continue its trend. Also, Sun TV has broken its long term trendline it was resisting & now if it would be able to remain above that then may go up. Today Sun TV has gain more than 5.4% ending at 288.55 making an high of 292.25. Sun TV if breaks the level of 293 is expected to test the level of 305 in the near term.

Our recommendation on Sun TV is Buy above 293 for Tg of 296 & 300

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