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Thursday, March 6, 2014

INDIAN BENCHMARKS at all-time high levels

INDIAN BENCHMARKS end at all-time closing high , sharp decline in India's current account deficit during the December quarter provided the perfect fuel vindicating foreign fund buying in the past few sessions to boost the markets.

Further, Lupin  has announced that  it  has  received  final approval  for  its  Doxycycline  Capsules  USP,  50  mg,  75  mg,  and  100  mg  from  the  United  States  Food  and  Drugs Administration (FDA) to market a generic version of Aqua Pharmaceuticals Monodox Capsules 50 mg, 75 mg, and 100 mg. ONGC and Oil India Ltd  are planning to buy 10% stake in Indian Oil Corp  from the government at Rs 220 per share, aggregating about Rs 5,300 crore.

The crucial resistance for Nifty is now seen at 6415 and above this 6450. Support for the immediate term is now placed at 6340 and next support will be 6260.


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