Daily Equity Market News 04 APR 2012

Indian equity market remains positive, nifty up 40pts and Sensex by 119pts.

INDORE, India (prHWY.com) April 4, 2012 - MARKET WRAP FOR EQUITY
* Indian equity market remains positive, nifty up 40pts and Sensex by 119pts.
* EUR PPI m/m at 0.6%, final GDP q/q at -0.3%, Dow future up 30pt.
* Investors optimistic on global economic growth on positive data of US. .
The market was positive for third consecutive day on strong buying of Indian stock by foreign investors. Nifty up 40pts settles at 5358 & Sensex 119pts settles at 17597.Energy, metal and bank were biggest gainer. Euro markets were red, CAC down 25pts at 3438 & FTSE by 16pts at 5858, DAX by 23pts at 7033. Dow Futures up 30pts.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5310
SUPP 2: 5235
RES 1: 5445
RES 2: 5515

CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10255
SUPP 2: 9960
RES 1: 10515
RES 2: 10655

Stock Recommendation

CapitalHeight's stock recommendation for 03/04/12 is Federal Bank. Federal Bank has crosses its very crucial resistance level of 437, in today's trading session. The stock was up more than 3% with the movement of 15pts.In upcoming session good upside movement can be expected. It has being consolidating on its resistance level from past many trading session. Federal bank is expected to test the level of 450-451 in the near term continuing which may test the level of 457.

Our recommendation on Federal Bank is BUY above 447 for the Tg of 451 & 455.

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Categories: Finance

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