Commodity Tips Provider

Tuesday 9 September 2014

INDIAN BENCHMARKS slip on profit taking… Nifty holds 8,150

INDIAN EQUITY BENCHMARKS ended lower, amid weak European cues, as investors turned cautious and booked profits at higher levels after hit fresh record highs in the previous session.

•    Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
•    Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.

The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.

   NEWS TO WATCH:

•    Watch out for the CPI and IIP data on 12TH Sep. 2014.
•    Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014

Sunday 31 August 2014

INDIAN BENCHMARK open to record high, big boost

INDIAN BENCHMARK open to record high, big boost comes from GDP numbers which were out on Friday. GDP grew fastest in over two years at 5.7% in the first quarter of FY15. The Supreme Court will today decide what to do with captive coal blocks, having deemed more than 200 allocations made since 1993 to be illegal.

FURTHER, Wockhardt Ltd has received Qualified Infectious Disease Product status from the US FDA for two of its drugs, WCK 771 and WCK 2349. Reliance Industries reportedly said it has returned nearly 1,384 acres of land in Gurgaon that was acquired for its SEZ.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net sellers of Rs. 730cr, as per the provisional figures released by the NSE.