Stock Market Current Report By Marketmagnify

Stock Market Wrap:

·         Indian markets surged up. Nifty, Sensex up by 2.16% & 2.11% respectively.

·         Asia-Pacific markets remain firm over weak economic data from US & EUR.

·         Wall St tumbles down. GBP CPI at 2.8% (y/y). Dow Futures down by 145 pts.

·         Nifty ended at 5688.95 up 120.55 points or 2.16 percent and the Sensex ended at 18744.93 up 387.15 points or 2.11 percent.

·         Union Bank hits market with USD 500m bond issue

·         SBI FY13 loan growth at 21%: Chairman

Technical View:

BANK NIFTY FUTURE LEVELS

SUPP 1: 11650

SUPP 2: 11330

RES 1: 11965

RES 2: 12220

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

SUPP 1: 5610

SUPP 2: 5530

RES 1: 5735

RES 2: 5810

Stock Recommendation:

Our recommendation on Maruti is BUY below 1490 for the Target of 1500/1520

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