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Tuesday, July 1, 2014

 INDIAN BENCHMARKS gains led by auto, metal shares.

INDIAN EQUITY BENCHMARKS gained for the third straight day, amid strong buying interest from foreign institutional investors, with auto and metal shares leading the gains.

Further, Maruti Suzuki ended up 6% , after reporting a 33.5% year on year increase in its total sales for June at 1,12,773 units. It had sold 84,455 units in the same month last year. Sterlite Technologies gain after it bagged nearly Rs 2500 crore of contracts from BSNL to implement end-to-end rollout of optical fiber network for defense services.

The crucial resistance for Nifty is now seen at 7665 and above this 7700. Support for the immediate term is now placed at 7600 and next support will be 7530.

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