MARKET WRAP FOR EQUITY
• Indian equity market down 1.20%, Nifty down 65 pts & Sensex down 208 pts.
• RBI raised repo & reverse repo rate by 25 bps to 6.75% & 5.75% respectively.
• European markets were in green with DAX leading, Dow future was up 80 pts.
Indian equity market ended down post RBI policy & rising crude oil with Nifty losing 65 pts to end below 5450 at 5446 while Sensex ended down 208 pts to end near 18K at 18150. In Euro zone, DAX was up 100 pts, CAC - 51 pts & FTSE- 59 pts. Dow future was up 80 pts as jobless claims came down by 16k at 385k & Core CPI at 0.2 vs. 0.1%.
TECHNICAL VIEW
CH NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 5545, 5610
Support: - 5435, 5360
Strategy: - Buy on Dips
CH BANK NIFTY OUTLOOK
Trend: - Consolidate
Resistance: - 11020, 11280
Support: - 10780, 10550
Strategy: - Buy on Dips
Stock Recommendation
CapitalHeight’s stock recommendation for 18/03/2011 is MPhasis LTD.
Mphasis is very bearish due to its recent weak quarterly result and its corporate government issues. It has ended down today nearly 4% at 384.65 while it has also breached its 200 DMA on weekly chart, which is a bearish signal. If it breaks the level of 375 then can further test the level of 360.
Our recommended on Mphasis SELL below 383 for the Target 378-370.
CapitalHeight Financial Services is a leading Stock Advisory Company, having a strong hold in providing most authentic and accurate Equity Tips as well as Commodity Tips.
We are a team of highly qualified and experienced analysts, who deliver their expertise in providing stock market calls for traders which include tips like Stock Tips, Commodity Tips, MCX Tips, Equity Tips and Intraday Tips. All services are provided through SMS and Instant Messenger.
Our research is based around these services:
• Stock Tips
• Commodity Tips
• Equity Tips
• Intraday Tips
• NCDEX Tips
For 2 Days Free Trial, please visit our site at http://www.capitalheight.com or please call our 24/7 Customer Care Support us at +91 9993066624, 0731 - 4295 - 950
Or email us at: contact@capitalheight.com
###




