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Friday, December 27, 2013

INDIAN BENCHMARKS ended in the green zone.

INDIAN BENCHMARKS closed in the green zone, sending indexes to their second consecutive weekly gains, as technology stocks such as Infosys extended a rally this year after data continued to signal a sturdier U.S. economy. ONGC shares were trading higher on reports that the petroleum ministry seeks to cut subsidy burden.

Further, Kotak Institutional Equities downgraded Maruti Suzuki India to "sell" from "reduce," saying the outlook for the company will be more challenging than currently priced by the stock. Shares of NTPC gains after they announced they are going too lined up new projects of 19,000 MW capacities, nearly half of that would be commissioned by 2017.


The crucial resistance for Nifty is now seen at 6330 and above this 6365. Support for the immediate term is now placed at 6285 and next support will be 6255.


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