• Indian markets ended green. Nifty and Sensex up by 0.65% and 0.48%.
• Asia-Pacific markets red. Hang sang down by 0.32% and Kospi down by 0.37%.
• Wall Street up.EUR final core CPI stood at 0.6%. Dow futures down by 10 pts.
The S&P BSE Sensex rallied over 200 points in trade on Monday, led by gains in Axis Bank BSE 3.43 %, ICICI Bank BSE 1.11 %, L&T, HDFC Bank and HDFC.
Tracking the momentum, the 50-share Nifty index also moved higher to reclaim its crucial psychological level of 8950 in trade today, supported by gains in banks, capital goods, autos, and realty and power stocks.
The 30-share index was at 29533.62, up 120 points or 0.41 per cent. It touched a high of 29570.60 and a low of 29451.69 in trade today.
The Nifty was at 8941 up 40 points or 0.45 per cent. It touched a high of 8961.80 and a low of 8930.05 in trade today.
The Indian rupee opened marginally lower at 61.89 per dollar on Monday versus 61.83 Friday. We expect a range of 61.75-62.15/dollar today
Capital Height’s Stock recommendation for 2/3/2015 is Axis bank ltd. In today’s trading session it was up by 8%. Its long term trend is up. On daily chart it has given upside breakout. Stochastic and RSI has also given buying confirmation. On daily chart its short term support level is 590. All the indicators are suggesting that one can go for long position in this stock above 610 levels. The stock may test level of 630-650 in coming days.
Our recommendation on Axis bank ltd. is LONG above 610 levels for tgt of 630-640.
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