INDIAN BENCHMARKS closed FY14 on a triumphant note with both the benchmark indices closing at record highs. Feb Fiscal Deficit stood at Rs. 66500 cr as against Rs. 41700 cr YoY which were below market expectations. Investors cautious ahead of the RBI policy to be released tomorrow.
Further, Shares of Bharti Airtel was slightly lower by 0.4% on report that Bharti Telecom, a promoter group company, has bought an over 5 million shares in the company from open market transactions. BHEL has secured a prestigious contract for setting up a 120 MW Hydro Electric Project (HEP) in the state of Uttarakhand.
The crucial resistance for Nifty is now seen at 6740 and above this 6800. Support for the immediate term is now placed at 6580 and next support will be 6540.
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