Friday, 30 May 2014
INDIAN EQUITY BENCHMARKS ended the last
session of the week and the first day of the June derivatives series on a
monotonous, albeit (although) choppy note in the absence of any enthusing cues
from the global front.
Further, Mahindra and Mahindra has
reported a 0.9 percent growth in net profit of Rs 896.9 crore in the quarter
ended March 2014, driven by tax reversal and income from sale of investments.
Tata
Chemicals lost 3.87% after the company reported a consolidated net loss of Rs
1225.72 crore in Q4 March 2014, higher than net loss of Rs 188.03 crore in Q4
March 2013.
The crucial resistance for Nifty is now
seen at 7270 and above this 7325. Support for the immediate term
is now placed at 7120 and next support will be 7060.
