INDIAN BENCHMARKS continue to fall ahead of RBI review
INDIAN EQUITY BENCHMARKS fell, continuing their retreat from record highs hit last week as blue-chips including Dr.Reddy's Laboratories extended falls after disappointing earnings, while caution prevailed a day before the central bank's policy review. The S&P BSE Sensex and CNX Nifty ended 0.21%-0.13% lower each.
· Jan HSBC Manufacturing PMI at 52.9 Vs 54.5 (MoM)
· Maruti Suzuki reports strong volume 13.9% (YoY); beat estimates
· JSW Energy Q3 Consolidated net profit up 87% (YoY)
· UPL Q3 Consolidated net profit up 12% (YoY)
The crucial resistance for Nifty is now seen at 8950 and above this 9015. Support for the immediate term is now placed at 8750 and next support will be 8705.
INDIAN EQUITY BENCHMARKS fell, continuing their retreat from record highs hit last week as blue-chips including Dr.Reddy's Laboratories extended falls after disappointing earnings, while caution prevailed a day before the central bank's policy review. The S&P BSE Sensex and CNX Nifty ended 0.21%-0.13% lower each.
· Jan HSBC Manufacturing PMI at 52.9 Vs 54.5 (MoM)
· Maruti Suzuki reports strong volume 13.9% (YoY); beat estimates
· JSW Energy Q3 Consolidated net profit up 87% (YoY)
· UPL Q3 Consolidated net profit up 12% (YoY)
The crucial resistance for Nifty is now seen at 8950 and above this 9015. Support for the immediate term is now placed at 8750 and next support will be 8705.
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