MARKET WRAP FOR EQUITY
• India market remains positive, Nifty up by 70pts & Sensex by 226.
• Asian pacific weak on Spanish bond yields rose to levels as unsustainable.
• GBP trade balance -8.4B, Industrial production 1%, Dow future up 62pts.
Indian indices positive on gains in European stocks, also data showing sustained buying of Indian stocks by foreign funds this month. Nifty up by 70pts settles at 5345 & Sensex by 226pts settles at 17618.Realty & FMCG sectors were biggest gainer. Euro markets green, DAX up 71pts at 6458, CAC 28pts at 3184 & FTSE by 45pts at 5672.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5240
SUPP 2: 5090
RES 1: 5370
RES 2: 5435
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10650
SUPP 2: 10370
RES 1: 10825
RES 2: 11080

Stocck Recommendation
CapitalHeight’s stock recommendation for 11/07/12 is Havells. Havells has being consolidating on its crucial resistance level from last many trading session. The major trend in the stock is bullish and at present it is in consolidation phase. In upcoming session we can expect some more uptrend from here, as in last trading session it has shown good movement with volume. It has made a very strong bullish candle that recognize more bullish trend. One can go for the long position in Havells above 590 with the stop loss at 556. Havells can test the level of 602-606 in short terms, & in near term continuing the trend may test 620.
Our recommendation on Havells is BUY above 590 for the Tg of 596 & 606

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