Stock recommendation for 07/12/2015

Sensex rallies over 100 points on GST hope, Nifty50 reclaims 7,800; Sun Pharma up 2% 
The S&P BSE Sensex traded rangebound after surging over 100 points in the morning trade on Monday tracking similar gains seen in other Asian markets.
The Nifty50 was testing its crucial psychological level of 7,800.

The broader market outperformed the benchmark indices with the BSE midcap and BSE smallcap indices gaining 0.16 and 0.6 per cent, respectively. Among the sectoral indices, the BSE Healthcare index was the top gainer up 0.73 per cent. The overall sentim ..
Anil Ambani's Reliance Communication today informed the bourses its decision to sign non-binding agreement with Tillman and TPG to sell its tower unit Infratel for an enterprise value of Rs 22,000 crore. GMR Infra plans to raise about Rs 2,000 crore through foreign currency convertible bonds (FCCBs), which will be issued as 60-year-old perpetual bonds.Shares of Essar Oil and Titan will remain in focus on Monday. Essar Oil Ltd, India’s second biggest non-state oil refiner, on Saturday issued a public notice to delist the company from local bourses by buying out the non-promoter shareholding of 28.54 per cent at Rs 146.05 per share.Tata Sons, the promoter of major operating companies of the Tata group, will acquire additional 0.22 per cent stake in Titan Company at an estimated price of over Rs 66 crore, taking its total holding to 19.80 per cent.  
GLOBAL MARKET OVERVIEW
Asian equities traded lower on Friday, after Wall Street closed in the red as investors digested comments from the Fed and the European Central Bank (ECB).
The Nikkei 225 fell 1.92% while the Shanghai Composite eased 0.92% and the S&P/ASX 200 dropped 1.72%.
The Dow Jones Industrial Average ended 252 points lower at 17,478 while the S&P 500 was down 30 points at 2,049. The Nasdaq was down 86 points at 5,038
Data released on Thursday showed initial US jobless claims for last week rose but remained at levels consistent with a strengthening labor market.
 
Today’s Stock Recommendation
Technical Overview: Stock recommendation for 07/12/2015 is Emami ltd.. In today’s trading session it was up by 1.58%. Its long term trend is up. It has made a green candle indicating further buying in daily chart. Its short term support level is 989. All the indicators are suggesting that one can go for long position in this stock above 1010 levels. The stock may test level of 1025-1050 in coming days.
 
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