Daily Equity Market News 29-03-2012

Indian equity markets remains negative, Nifty down 48pts & Sensex 135pts.

INDORE, India (prHWY.com) March 29, 2012 - MARKET WRAP FOR EQUITY

* Indian equity markets remains negative, Nifty down 48pts & Sensex 135pts.
* EUR money supply 2.8%, GBP GDP q/q -0.3%, ahead crude oil inventories.
* Crude traded marginally higher after sideways move, Dow future down 67pts.
The market was negative today on F&O expiry tomorrow, traders rollover position may takes market remains volatile. Nifty down 48pts settles at 5194 &Sensex 135pts settles at 17121.Bank & Realty were biggest losers. Euro markets were flat, CAC up 1pts at 3471 & FTSE down 6pts at 5862, DAX up 4pts at 7083. Dow Futures was down 67 pts.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5150
SUPP 2: 5070
RES 1: 5255
RES 2: 5315

CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 9835
SUPP 2: 9670
RES 1: 10155
RES 2: 10310

Stock Recommendation
CapitalHeight's stock recommendation for 29/03/12 is Hexaware Tech. Hexaware Tech having bearish trend for short term. It have double top in its daily chart from where it is pullback, and at present trading on its support level. In today's trading session also it remains negative. In upcoming session below its support level some more down trend can be expected. Hexaware is expected to test the level of 106-105 in the near term continuing which may test the level of 103.

Our recommendation on Hexaware tech is SELL below 107 for the Tg of 105 & 104.

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Categories: Finance

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