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Friday, January 10, 2014

INDIAN BENCHMARKS pared its intra-day gains pulled down.

INDIAN EQUITY BENCHMARKS pared its intra-day gains pulled down by a sell-off in banking shares after Indusind bank reported a rise in its net performing assets (NPAs) for the third quarter ended 31st December as well as ahead of Indian Industrial Production (IIP) number later in the day.

Further, Shares of IT companies are in focus trading higher by up to 3% after Infosys has reported a better-than-expected October-December (Q3) quarter earnings. Jubilant FoodWorks has dipped over 3% to Rs 1,185 after index provider MSCI excluded the company from the MSCI global small-cap index.

The crucial resistance for Nifty is now seen at 6240 and above this 6275. Support for the immediate term is now placed at 6125 and next support will be 6100.

News to watch:

·Watch out for consumer price index (CPI) on Jan 13


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