Daily NewsLetter Equity 16-03-2012

* Indian equity market slip down; Nifty down 83.40 pts and Sensex 243.45 pts. * RBI maintained its key policy rates unchanged.

INDORE, India (prHWY.com) March 16, 2012 - MARKET WRAP FOR EQUITY

* Indian equity market slip down; Nifty down 83.40 pts and Sensex 243.45 pts.
* RBI maintained its key policy rates unchanged.
* US unemployment claim decreased from 365k to 351k.

Indian benchmark indices remain negative on the note of political issue. Bank and realty remains the biggest losers. Nifty was down 83 pts to settle at 5380 & Sensex was down 243 at 17676. Euro markets were green with DAX up 22 pts at 7101, CAC 0.33 pts at 3565 & FTSE down 10 pts to end at 5935. Dow Futures was up 32 pts.

CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5365
SUPP 2: 5290
RES 1: 5465
RES 2: 5535

CH BANK NIFTY OUTLOOK
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 10445
SUPP 2: 10250
RES 1: 10825
RES 2: 11070

Stock Recommendation

CapitalHeight's stock recommendation for 16/03/12 is Jet Airways. Jet airways ended in green despite the negativity in the market. The stock sustain above its 200 DMA which shows buying pressure in the stock. In today's trading session, it ends with the gain of 1.7%. The stock on the daily chart has made a bullish candle, and above 335 it can test next resistance level of 342-350.

Our recommendation on Jet Airways is BUY above 335 for the Tg of 342 & 350.

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Categories: Business

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