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Friday, July 25, 2014

INDIAN BENCHMARKS snap 8 day rally… Nifty below 7800.

INDIAN EQUITY BENCHMARKS fell after hitting a record high for a third straight day as investors booked profits after majority of the quarterly earnings announced by corporate Inc disappointed.

Further, Colgate Palmolive India Ltd has announced results for the quarter ended June 30, 2014 net profit down 27.16% at Rs134.91 crore vs Rs185.22 crore YoY. Total Income up 9.86% at Rs963.35 crore vs Rs876.81 crore YoY.

The government plans to sell a 5% stake in state-run Steel Authority of India Ltd (SAIL) this fiscal year ending March.
The crucial resistance for Nifty is now seen at 7850 and above this 7880. Support for the immediate term is now placed at 7750 and next support will be 7700.


Watch out Quarterly Earnings of Bank of Baroda, Dabur India, L&T, HUL, Havells India, UPL on 28TH July 2014.

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