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Friday, April 25, 2014

INDIAN BENCHMARKS ended lower… Nifty below 6800.

INDIAN EQUITY BENCHMARKS ended lower to profit taking in the second half of the trading session, amid growth concerns, with private banking majors and index heavyweights ITC and Reliance Industries leading the decline.

Further, Maruti Suzuki reported net profit at Rs 800 crore in the quarter ended March 2014, up 17.5 percent compared to previous quarter that was lower than forecast. ICICI Bank fourth quarter (January-March) net profit jumped 15 percent year-on-year to Rs 2,652 crore, supported by non-interest income and operating profit but impacted by higher provisions.

The crucial resistance for Nifty is now seen at 6880 and above this 6900. Support for the immediate term is now placed at 6700 and next support will be 6670.


Watch out for the quarterly earnings of Alembic Pharma, Idea, HUL, KPIT, SKS Micro Finance on 28TH April.

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