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Friday, May 8, 2015

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INDIAN BENCHMARKS rally; rebound from 2015 lows

INDIAN EQUITY BENCHMARKS surged more than 1.5% on Friday, snapping three days of fall, with the BSE index marking its best daily gain in four months after the country set up a panel to suggest ways to resolve a tax dispute with foreign investors. The S&P BSE Sensex and CNX Nifty ended 1.90-1.67% higher each.                                                                                                        
Headlines for the day:
PNB Q4 net profit at Rs307 cr: Asset Quality Worsens
Allahabad Bank Q4FY15 sees stable trends in asset quality
HUL Q4 in line with estimates; Volume growth at 6%

The crucial resistance for Nifty is now seen at 8250 and above this 8295 . Support for the immediate term is now placed at 8110  and next support will be 8065.

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