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Tuesday, February 25, 2014

INDIAN BENCHMARKS ends higher ahead of February derivative expiry

 INDIAN BENCHMARKS ended a volatile session of trade in the positive territory ahead of February derivative contracts expiry tomorrow. This was the third consecutive session of gains. Cadila Healthcare is trading higher by 2% extending its yesterday’s nearly 5% rally, after the company said it has received the final approval from the US FDA to market Clonidine Hcl Injection 0.1 and 0.5 mg/ml, 10 ml.

Further, Shares of Ranbaxy Laboratories was up 2% at Rs369 it has suspended shipments of pharmaceutical ingredients produced at its Toansa and Dewas plants. Indian Oil Corp is reportedly planning to buy Malaysian firm Petronas' 10% stake in a shale-gas assets and liquefied- natural-gas project in British Columbia for $900 mn.

The crucial resistance for Nifty is now seen at 6300 and above this 6350. Support for the immediate term is now placed at 6100 and next support will be 6040.

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