Monday, 21 July 2014
INDIAN
EQUITY BENCHMARKS gained for the fifth straight session amid encouraging first
quarter earnings from index heavyweights Reliance Industries and HDFC.
Meanwhile, foreign institutional investors turned focus to the broader markets
where valuations are seen reasonable at current levels.
·
Further, Idea Cellular reported a 57.2 percent
jump in quarterly profit, consolidated first-quarter profit was 7.28 billion
rupees ($120.8 million), up from 4.63 billion rupees a year earlier.
·
HDFC reported a 14.7 percent growth, in first
quarter net profit at Rs 1,345 crore compared to Rs 1,173 crore in same quarter
last year.
The
crucial resistance for Nifty is now seen at 7730 and above this 7800.
Support for the immediate term is now placed at 7675 and next
support will be 7615.
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