INDIAN
BENCHMARKS closed in the
negative territory for the fifth consecutive day.
INDIAN EQUITY closed in the negative
territory for the fifth consecutive day as FIIs turned sellers over the last
one week. This comes in the wake of weak economic data and emerging political
uncertainties. Also, weak Asian cues compounded the negative sentiment. Share
of Apollo Tyres were trading higher after Brokerage house Credit Suisse has an
outperform rating on the stock, citing uncertainty over Cooper Tire transaction
is over.
Further, Financial Tech was locked in
upper circuit of 10% at Rs 271, also its highest level since August, with no
sellers are seen on the counter in otherwise weak market. Shares of Tata steel
were trading down as after considering an increase in the prices of its
products in the January-March (Q4) of the 2014 financial year.
The crucial resistance for Nifty is now
seen at 6225 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 the quarterly earnings of
Infosys & Indusind Bank on Jan. 10 i.e. on Friday.
·
Watch out for consumer price index (CPI)
on Jan 13.
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