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Monday, June 2, 2014

INDIAN BENCHMARKS ended higher… Nifty above 7,350.

INDIAN EQUITY BENCHMARKS closed with bumper gains as it gained steadily throughout the day. Investor will keenly watch the RBI policy announcement on tomorrow. Indian HSBC Purchasing Managers' Index (PMI) rose marginally to 51.4 points in May from 51.3 points in April.

Tata Power has commissioned its second solar power project of 25 MW capacity at Palaswadi in Maharashtra. Maruti Suzuki India surged nearly 2% after total sales in May 2014 rose 19.2% to 1,00,925 units compared with 84,677 units in May 2013 driven by the compact segment.

The crucial resistance for Nifty is now seen at 7370 and above this 7500. Support for the immediate term is now placed at 7240 and next support will be 7200.

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