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Monday, May 19, 2014

INDIAN BENCHMARKS ended at record highs, led by infrastructure stocks

INDIAN EQUITY BENCHMARKS ended at record highs, amid aggressive institutional buying in infrastructure, oil and gas stocks on hopes that the new government will announce reforms in both these sectors to boost economic growth.

Further, BHEL was up nearly 17% as it has signed an initial agreement with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired plant in the island nation. Century Textiles and Industries has surged 8% that Kumar Mangalam Birla will acquire 16% stake in the company.

The crucial resistance for Nifty is now seen at 7290 and above this 7350. Support for the immediate term is now placed at 7130 and next support will be 7060.


Watch out for the quarterly earnings of VIP Industries and Essar Oil on 20TH May 2014. 

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