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Thursday, January 2, 2014



INDIAN BENCHMARKS drop on weak PMI

INDIAN BENCHMARKS slipped for the second consecutive day with losing over 1% each in the second half of the trading session as profit booking emerged at higher levels.  It drops on weak PMI. The PMI was down at 50.7 points in December from 51.3 in the previous month.

Further, Coal & Oil Group has received Rs 1,600 crore additional funding for its 1,200-MW project at Tuticorin in Tamil Nadu. Arvind surged 5.26% after a bulk deal of 36.05 lakh shares at Rs 150 per share.
The crucial resistance for Nifty is now seen at 6365 and above this 6415. Support for the immediate term is now placed at 6195 and next support will be 6150.

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