Daily NewsLetter Equity By Money CapitalHeight 20-03-2012

* Indian equity markets continue downtrend; Nifty & Sensex down more than 1%. * Europe current account at 4.5B , trade balance at 5.9B.

INDORE, India (prHWY.com) March 20, 2012 - MARKET WRAP FOR EQUITY

* Indian equity markets continue downtrend; Nifty & Sensex down more than 1%.
* Europe current account at 4.5B , trade balance at 5.9B.
* European market edged lower, FTSE down 18pts, CAC 22pts, DAX 42pts.

Indian benchmark indices down on profit booking post budget. Realty, Infra and banks remain the biggest losers. Nifty was down 61 pts to settle at 5257 & Sensex was down 193 at 17273. Euro markets were red on firm global crisis with DAX down42 pts at 7111, CAC 25 pts at 3569 & FTSE 23 pts at 5942. Dow Futures was up 60 pts.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5220
SUPP 2: 5145
RES 1: 5345
RES 2: 5415

CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10130
SUPP 2: 9950
RES 1: 10350
RES 2: 10610


Stock Recommendation

CapitalHeight's stock recommendation for 20/03/12 is ACC. ACC having very strong trend line breakout due to which in short term it may continue its upside move. The stock is up more than 1.5%, in today's trading session. It has being taking the support of trend line and bounce upward. The stock on the daily chart has made a bullish candle, and above 1371 it can test next resistance level of 1385 - 1400.

Our recommendation on ACC is BUY above 1371 for the Tg of 1385 & 1400.

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Tag Words: equity tips, mcx tips, stock tips

Categories: Finance

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