Wednesday, 28 May 2014
INDIAN
EQUITY BENCHMARKS continued
to consolidate with the Nifty holding the 7300 level ahead of expiry of May
derivative contracts tomorrow.
Further, Havells India has reported a 25
percent growth in fourth quarter net profit at Rs 136.9 crore on standalone
basis, supported by other income and higher revenue. SAIL fourth quarter net
profit rising 1.5 percent year-on-year to Rs 453 crore, impacted by weak
operational performance.
The crucial resistance for Nifty is now
seen at 7380 and above this 7430. Support for the immediate term
is now placed at 7250 and next support will be 7200
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NEWS TO WATCH:
·
Watch
out for the quarterly earnings of Cipla, Coal India, Hindalco, IOC, Liberty
Shoes, Natco Pharma, ONGC, Sun Pharma, Tata Motors, Tata Power, Titagarh
Wagons, Voltas, DLF, BPCL, Crompton Greaves on 29TH May
2014.
