INDIAN EQUITY
BENCHMARKS retreated from higher levels but continued to trade
in the green zone led by by RIL, ICICI Bank.
Further, IRB Infrastructure
Developers Ltd has posted a net profit of Rs. 1092.319 mn for the quarter ended
March 31, 2014 as compared to Rs. 1511.374 million for the quarter ended March
31, 2013. Coal India hit their highest level in nearly three years after on
speculation that PM-elect Narendra Modi, was exploring breaking up the company
and opening up the sector for foreign investment.
The crucial resistance
for Nifty is now seen at 7320 and above this 7360. Support for
the immediate term is now placed at 7190 and next support will be
7130.
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NEWS TO
WATCH:
Watch out for the
quarterly earnings of HDIL, ITC, Strides Arcolab on 23RD May
2014. 
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