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Wednesday, June 18, 2014

INDIAN BENCHMARKS ended at lower levels …Nifty ends below 7600

INDIAN EQUITY BENCHMARKS ended at lower levels after al-Qaida group attacked Iraq’s biggest oil refinery bringing production to a halt.

Further, Tata Steel would seek its shareholders approval to issue up to Rs. 140 billion of privately placed debt securities. The bonds may be convertible or non-convertible, and issued in the domestic or international market. Reliance Industries to start offering next year fourth-generation telecommunications services as the energy major seeks to boost revenue from new business areas.

The crucial resistance for Nifty is now seen at 7675 and above this 7700. Support for the immediate term is now placed at 7510 and next support will be 7485.

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