Daily NewsLetter Equity By Money CapitalHeight 22-03-2012

* Indian equity markets bullish today, Nifty up 90pts and Sensex up 286pts . * Global markets were flat, looking ahead for Fed Chairman Bernanke testifies.

INDORE, India (prHWY.com) March 22, 2012 - MARKET WRAP FOR EQUITY

* Indian equity markets bullish today, Nifty up 90pts and Sensex up 286pts .
* Global markets were flat, looking ahead for Fed Chairman Bernanke testifies.
* Dow future were up 35pts, European market were flat on rising crude prices.

The market was positive today, on the way for profit booking with nifty up 90pts settles at 5372 and Sensex up 286pts settles at 17601.All the sectors performed well including bank, realty, IT. Euro markets
were flat DAX up 10pts at 7064, CAC 1pts at 3532 & FTSE 5 pts at 5896. Dow Futures was up 35 pts.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5320
SUPP 2: 5245
RES 1: 5435
RES 2: 5515

CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10490
SUPP 2: 10130
RES 1: 10825
RES 2: 11110

Stock Recommendation
CapitalHeight's stock recommendation for 22/03/12 is ITC. ITC is at all time high and strong buying pressure can be seen in the chart. ITC at present in the consolidation phase and above 225, it may continue its uptrend. The stock today also sustain above its support level of 219.In upcoming session some bullish trend can be expected. The stock is good above 225 it may go for 228-231.

Our recommendation on ITC is BUY above 225 for the Tg of 228 & 231.

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Tag Words: mcx tips, stock tips, equity tips

Categories: Finance

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