Stock Tips- 22/03/2013

Bears dragged the markets towards their deeper support levels and closed on weak note led by weak European markets. Nifty future in the first half of trade traded towards its strong resistance of 5770 and reversed selling was seen from higher levels and it broke its major support of 5670 on lower side and also closed below it. Now, if it holds below 5650 then selling pressure may continue towards the next support of 5550 while strength can be seen only above 5800. TREND: SIDEWAYS SUPPORT : 5620 & 5580

RESISTANCE: 5710 & 5770
Major Market News:

• Sensex turns negative; Tata Steel plunges over 5%.
•  ONGC to invest Rs 4,000cr for offshore facilities.
•  Alstom bags contract worth EUR 85 mn from BHEL.
• Govt. to sell SAIL’ 5.82% stake; may rake in about Rs 15.64 bn.
• L&T Construction secures orders of Rs 2,080 cr.

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