INDIAN BENCHMARKS rise on positive macro data, value buying
INDIAN EQUITY BENCHMARKS rose on Monday, bucking a softer trend in global markets as blue chips advanced on strong factory and stable inflation data, while value buying after three consecutive weekly declines also helped. The S&P BSE Sensex and CNX Nifty ended 0.61-0.39% higher each.
Headlines for the day:
May WPI Inflation at -2.36% Vs -2.65% (MoM)
IIP growth zooms, CPI inflation in comfort zone
Reliance AGM for FY2015: Plans to launch 4G services in December
Cairn, Vedanta surges on merger deal
The crucial resistance for Nifty is now seen at 8070 and above this 8125. Support for the immediate term is now placed at 7925 and next support will be 7875.
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