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Tuesday, February 18, 2014

INDIAN BENCHMARKS end at 3-week closing highs.

INDIAN BENCHMARKS surged to end at their highest closing level in three weeks, led by financial shares, amid high growth forecast in the last two quarters of the current fiscal, fiscal deficit target at an 8-year low of 4.1% and reduction in net borrowing for FY15..

Further, Bharti Airtel slipped 1%, after the company and Loop Mobile announced a strategic agreement for their operations in Mumbai service area. Shares of Hindustan Zinc dipped over 3% at Rs 119 on reports that the government is unlikely to complete sale of minority stake in the company during the current fiscal which ends on March 31, 2014.

The crucial resistance for Nifty is now seen at 6190 and above this 6250. Support for the immediate term is now placed at 5965 and next support will be 5930.


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