Thursday, 10 April 2014
INDIAN EQUITY BENCHMARKS ended with marginal gains as the Nifty slipped below 6800. Cairn India is trading higher by 1.7% after reporting 11% year on year growth in oil and gas production to 20.20 million barrels of oil equivalent during fourth quarter of 2013-2014.
Further, Shares of Piramal Enterprises
gained 2% after the company agreed to divest its entire stake in Vodafone India
for a total consideration of Rs 8,900 crore. Tata Motors surged nearly 3
percent after brokerage house Citi has maintained a buy rating on the stock and
also revised its target price to Rs 486 as against Rs 421 earlier.
The crucial resistance for Nifty is now
seen at 6830 and above this 6870. Support for the immediate term
is now placed at 6700 and next
support will be 6670.
