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Monday, December 23, 2013

INDIAN BENCHMARKS ended on flat note.

INDIAN BENCHMARKS ended flat after investors booked profit at higher levels while IT majors weakened following the recent developments at Infosys. However, rate sensitive shares remained firm with realty shares leading the pack after RBI maintained status quo on key policy rates last week.

Further, L&T gain after global institutional investor proposed acquisition of a stake in L&T's subsidiary viz. L&T Infrastructure Development Projects. Financial Tech is under pressure as sources indicate that Sebi has issued a show cause notice to the company post FMC order on being fit and proper.

The crucial resistance for Nifty is now seen at 6330 and above this 6370. Support for the immediate term is now placed at 6265 and next support will be 6170.


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