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Wednesday, March 19, 2014

INDIAN EQUITY BENCHMARK ended range bound,

INDIAN EQUITY BENCHMARK ended on a flat note once again amid choppy trading session. Indices were stuck in a narrow trading range throughout the day. Although the Ukraine-Russia concerns seem to be easing, but market participants are eagerly waiting for the FOMC meeting outcome.

Further, Shares of Polaris has hit 20% upper circuit at Rs183.9 after the company announced the demerger of its Products (Intellect) business into an independent entity 'Intellect Design Arena Ltd (Intellect), with a focus on Global Universal Banking; Risk and Treasury Management; Global Transaction Banking and Insurance businesses.

While, Tata Consultancy Services fell as much as 5.1% after analysts cited the company as saying revenue growth from software services could be weakening from the previous quarter.

The crucial resistance for Nifty is now seen at 6605 and above this 6640. Support for the immediate term is now placed at 6515 and next support will be 6460.


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