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Wednesday, February 26, 2014

INDIAN BENCHMARKS ends at one-month high on February F&O expiry.

INDIAN BENCHMARKS increased for the fourth consecutive day amidst volatile trading and expiry of the February Futures & Options derivative contracts. Gains of 2% in index heavyweight ITC also contributed towards the rise.

Further, State Bank of India increased by 1% to Rs 1,522 after its board schedule to meet next week to consider interim dividend to shareholders of the company. Dr Reddy’s Laboratories gained nearly 2% after touching a record high of 2,845 earlier in the day, after the company said it has launched Sumatriptan Injection USP in the US.

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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