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Tuesday, May 31, 2016

Equity Tips
INDIAN BENCHMARKS: SENSEX ENDS 57 POINTS LOWER, NIFTY 50 AT 8160

After five straight sessions of gains, the domestic equity market closed in the red on Tuesday ahead of key macroeconomic data scheduled for release later in the day.
The S&P Sensex opened a good 100 points higher while the broader Nifty50 reclaimed the coveted 8,200 mark in opening trade. But the market slipped into the negative zone soon after and traded with losses through the day.
The index turned green marginally about 30 minutes before close but gave it up all to eventually end the day at 26,667.96, down 57.64 points or 0.22 per cent. The NSE's Nifty50 index closed at 8,160.10, down 18.40 points or 0.22 per cent.

HEADLINES OF THE DAY
Sun Pharma drops on lower than expected Q4FY16 profit.
Bata India Q4: Net Profit -52.2% at Rs27.9 Cr
SAIL Q4: Net Loss at Rs1, 230.9 Cr Vs Profit of Rs334.2 Cr (YoY)

The crucial resistance for Nifty spot is now seen at 8232 and above this 8328. Support for the immediate term is now placed at 8070 and next support will be 8000.

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