Friday 4 April 2014

INDIAN BENCHMARKS blinks in face of US jobs data… Nifty below 6,700.

INDIAN EQUITY BENCHMARKS edged lower on the last trading day of the week as investors took profit in most blue-chip stocks after nine consecutive days of record highs. This cautious move came ahead of the key US jobs data later in the day.

Further, HDIL rallies 30% post Kotak Securities stake buy. On March 27, 2014 Kotak Securities bought 2.13 million shares of HDIL at Rs 51.56.Shares of Crompton Greaves jumped over 2 percent as its power transformer plant at Indonesia bagged order worth USD 29 million.

The crucial resistance for Nifty is now seen at 6600 and above this 6615. Support for the immediate term is now placed at 6500 and next support will be 6470.

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