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Monday, May 12, 2014

INDIAN BENCHMARKS end at record highs… Nifty ends above 7,000.

INDIAN EQUITY BENCHMARKS end at new record highs in anticipation that the exit polls slated for release later today would signal business-friendly Bharatiya Janata Party winning majority in the general elections.

Further, Torrent Pharma has reported 120 percent jump in net profit for the quarter ended March 31 to Rs 244 crore, as against Rs 111 crore in the year-ago period. Bharti Airtel is planning to raise $2 billion throughout the year to refinance its existing debt.

The crucial resistance for Nifty is now seen at 7020 and above this 7070. Support for the immediate term is now placed at 6860 and next support will be 6750.

Watch out for the quarterly earnings of Bank Of Baroda, DR Reddy, Punjab National Bank on 13TH May 2014. 

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