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EquityTips
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Thursday, June 12, 2014

INDIAN BENCHMARKS ends positive …financials & auto shares gain
INDIAN EQUITY BENCHMARKS ended positive amid day long choppy trading session led by buying amongst financials and auto shares.

Further, Shares of Bharti Airtel slumped by 3.57% after Credit Suisse downgrades the stock to "underperform" from "neutral" and reduces the target price to 265 rupees from 275 rupees, citing competition from rival Rel Jio's, a unit of Reliance Industries. HDIL dipped 3% after Nomura Singapore offloaded more than two million shares of the Mumbai-based real estate firm through an open market transaction.

The crucial resistance for Nifty is now seen at 7660 and above this 7700. Support for the immediate term is now placed at 7590 and next support will be 7560.

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