DAILY NEWSLETTER EQUITY 25-APR-2012

Indian market was range bound, Nifty up 22pts & Sensex by 110pts. Asian stocks were volatile, awaiting announcement from US Federal Reserve

INDORE, India (prHWY.com) April 25, 2012 - MARKET WRAP FOR EQUITY

* Indian market was range bound, Nifty up 22pts & Sensex by 110pts.
* Asian stocks were volatile, awaiting announcement from US Federal Reserve.
* Wal Mart sheds 4.8% on bribery scandal report, Dow future up 57pts.

The market volatile on F&O expiry ahead, IT sector were biggest gainer as IT major TCS jumped over 13% on good Q4 results & positive upcoming outlook. Nifty up 22pts settles at 5222 & Sensex by 110pts settles at 17207.Euro markets were green, CAC up 41pts at 3139, DAX by 30pts at 6553& FTSE by 29pts at 5694.Dow Futures up 57pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5160
SUPP 2: 5070
RES 1: 5280
RES 2: 5365
CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10130
SUPP 2: 9910
RES 1: 10440
RES 2: 10620
Stock Recommendation
CapitalHeight's stock recommendation for 25/04/12 is Tata Consultancy Services. TCS has successfully taken its crucial support level at 1040 and bounce from the level. In today's trading session, it was up more than 13% after its good Q4 result announcement and positive aspects for future. In chart also it has break its downward trend line and shown upward movement with good volume. In upcoming session more bullish trend can be expected.TCS is expected to test the level of 1220-1230, and in the near term continuing the trend may test the level of 1250.

Our recommendation on TCS is BUY above 1200 for the Tg of 1215 & 1230

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Categories: Finance

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