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Friday, February 7, 2014



INDIAN BENCHMARKS bounce back amid volatile trade

INDIAN BENCHMARKS trimmed early gains to end marginally higher as investors turned cautious ahead of the GDP data for the current fiscal to be released today around 5.30 pm. The government is likely to lower its estimate of 5% growth forecast for the financial year 2013-14, because of slower-than-expected recovery in industrial growth.


Further, Tata Power was down 0.33% as its consolidated net loss narrowed to Rs 75 crore for the quarter ended December 31, 2013, compared to a net loss of Rs 329 crore posted in the same period last year. Ambuja Cements gained almost 5% after net profit rose 49.31% to Rs 316.50 crore on 5.19% decline in total income to Rs 2297.62 crore in Q4 December 2013 over Q4 December 2012.


The crucial resistance for Nifty is now seen at 6100 and above this 6170. Support for the immediate term is now placed at 6030 and next support will be 5965.

Happy Reading!!!

 ·         Watch out for the quarterly earnings of Apollo Hospital, IGL, JP Associate, NMDC, Ceat ltd, Tata Motors on 10th Feb.

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