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Thursday, January 23, 2014


INDIAN BENCHMARKS end at fresh new closing highs in 2014

INDIAN BENCHMARKS closed in the green with the Nifty closing at a new high in 2014 and the Sensex ended at its all time closing high.  Cairn India Ltd has posted a net profit of Rs. 28840.40 mn for the quarter ended December 31, 2013 as compared to Rs. 33448.90 million for the quarter ended December 31, 2012.

Further, L&T jumped 4 percent riding high on its December quarter results announced. Company's third quarter (October-December) net profit grew 10.6 percent year-on-year to Rs 1,241 crore compared to a year ago period. Dish TV India Ltd has posted a net loss of Rs. 382.50 mn for the quarter ended December 31, 2013 as compared to net loss of Rs. 448.80 mn for the quarter ended December 31, 2012.
The crucial resistance for Nifty is now seen at 6365 and above this 6415. Support for the immediate term is now placed at 6285 and next support will be 6240.
News to watch:
·        Watch out for the quarterly earnings of UCO Bank, UPL, Karnataka Bank on 24TH JAN.

·         Watch out for the RBI Third Quarter Review Policy on 28TH  JAN.

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