Today’s Stock
Market News:
Today S&P BSE
Sensex and the 50-unit CNX Nifty, both, recovered after hitting their lowest
level in more than a week. The Sensex was up 32.06 points or 0.16%, up close to
70 points from the day's low and off about 30 points from the day's high.
Trading in US index futures
indicated that the Dow could gain 12 points at the opening bell on Tuesday, 14
May 2013. US stocks finished little changed on Monday as investors mulled when
the Federal Reserve may begin to scale back its $85-billion-a-month bond-buying
program.
Indian
markets plummeted down by over 2%, led by FMCG, metal, IT and auto stocks.
Sentiments got underpinned by weak trade data for the month of April; trade
deficit at USD 17.8 bn. G-7 intensifies Japan focus signaling acceptance of Yen
drop. Nifty drops 126 pts, closed at 5980. Sensex sheds 430 pts, closed at
19691. Europe is running red.
Recommendation
By Money CapitalHeight :
CapitalHeight’s stock recommendation for 14/05/2013 is Bharat Heavy Electricals Ltd. It has
been trading in consolidation trend from last few days. In today’s trading
session, it was down by 3.03%. On the daily chart, it made a long black
candlestick and momentum indicator stochastic has also given negative
crossover. All the indicators are suggesting that we can see some downside
movement in the stock. Its short term strong support level is around 174. One can
go for short position in BHEL below 189. The stock may test level of 178 in
near term.
Our recommendation on BHEL is SELL below 189
for the Target of 186/180.
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