Monday, 19 May 2014
INDIAN EQUITY BENCHMARKS ended at record
highs, amid aggressive institutional buying in infrastructure, oil and gas
stocks on hopes that the new government will announce reforms in both these
sectors to boost economic growth.
Further, BHEL was up nearly 17% as it
has signed an initial agreement with PT Star Vyobros, Indonesia for setting up
a 200 MW coal fired plant in the island nation. Century Textiles and Industries
has surged 8% that Kumar Mangalam Birla will acquire 16% stake in the company.
The crucial resistance for Nifty is now
seen at 7290 and above this 7350. Support for the immediate term
is now placed at 7130 and next support will be 7060.
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NEWS TO WATCH:
·
Watch
out for the quarterly earnings of VIP Industries and Essar Oil on 20TH
May 2014.
