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Bond prices to consolidate at current levels: Dhawal Dalal
Dhawal Dalal, DSP BlackRock Invst said, "Bond prices are likely to consolidate at current levels. We expect the rally to pause from a technical perspective. Any dip in the price should be taken advantage of by the long-term investors."
"We expect the benchmark 10-year to trend towards 8 percent in the next 6-9 months,"he added.
INDIAN BENCHMARKS end at Record High… Nifty closes above 8100
INDIAN EQUITY BENCHMARKS record
high as software exporters such as Infosys rallied after strong US
manufacturing and construction data, while continued foreign buying and falling
oil prices also helped.
·
Bharti Airtel was up 3% after the
company said its arm signed an agreement to acquire over 2.7 million
subscribers of yuMobile.
·
Further, Shares of Tata Motors gained
nearly 3%, after a slew of rating upgrades. Morgan Stanley upgrades the stock
to Overweight from Equal-weight.
The crucial resistance for Nifty is now seen at 8140
and above this 8165. Support for the immediate term is now placed at
8090 and next support will be 8040.
INDIAN BENCHMARKS end at record closing high
INDIAN EQUITY BENCHMARKS ended at fresh life time high
on positive global cues and a sharp decline in crude oil prices.
·
Tata Motors DVR jumped 5.6 percent after
a report in the Times of India newspaper that Indian exchanges may consider
admitting such shares on their benchmark indexes.
·
Further, Jubilant Foodworks gained 6.2
percent after Bank of America Merrill Lynch started coverage with a buy rating
and a target price of 1,375 rupees, saying the company is in a "sweet
spot" in the large and high-growth quick service restaurants market.
The crucial resistance for Nifty is now seen at 7910
and above this 7945. Support for the immediate term is now placed at
7780 and next support will be 7740.
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