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Thursday, April 3, 2014

INDIAN BENCHMARKS snaps 10-day winning streak… Nifty below 6,700

INDIAN BENCHMARKS snapped its 10-day winning streak as investors booked profits at higher levels in banking, oil & gas and capital goods stocks.

Further, Shares of Larsen and Toubro trimmed losses in late trade after the management clarified about write-off of slow moving orders. Shares of Torrent Pharmaceuticals gain after private equity firm ChrysCapital has invested around USD 40 million in company.

The crucial resistance for Nifty is now seen at 6780 and above this 6830. Support for the immediate term is now placed at 6600 and next support will be 6580.

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