INDIAN BENCHMARKS ended flat ahead of economic cues.
INDIAN EQUITY BENCHMARK ended on a flat note as blue chip shares including ITC declined after the PM’s economic panel said it would be a challenge for the government to meet its fiscal deficit. On the sectoral front FMCG, Tech and IT were in the red and the ones in the green were the Power, Realty and Capital Goods. IIP rose 2.6% above expectations, led by a jump in 2 of the most volatile components of capital goods.
Further, Power stocks were also in bull grip with the Tata Power rising 2% as Central Electricity Regulatory Commission is likely to decide compensatory tariff rate. ITC Ltd fell as traders lighten positions ahead of WPI data on Monday and the U.S. Federal Reserve's decision on stimulus tapering, as well as RBI policy review later in the next week.
The crucial resistance for Nifty is now seen at 5910 and above this 5955. Support for the immediate term is now placed at 5820 and next support will be 5770.
News to watch:
• Watch out for the WPI numbers on 16 SEPT.
• Watch out for the RBI policy on 18 SEPT.
• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.
commodity tips
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INDIAN EQUITY BENCHMARK ended on a flat note as blue chip shares including ITC declined after the PM’s economic panel said it would be a challenge for the government to meet its fiscal deficit. On the sectoral front FMCG, Tech and IT were in the red and the ones in the green were the Power, Realty and Capital Goods. IIP rose 2.6% above expectations, led by a jump in 2 of the most volatile components of capital goods.
Further, Power stocks were also in bull grip with the Tata Power rising 2% as Central Electricity Regulatory Commission is likely to decide compensatory tariff rate. ITC Ltd fell as traders lighten positions ahead of WPI data on Monday and the U.S. Federal Reserve's decision on stimulus tapering, as well as RBI policy review later in the next week.
The crucial resistance for Nifty is now seen at 5910 and above this 5955. Support for the immediate term is now placed at 5820 and next support will be 5770.
News to watch:
• Watch out for the WPI numbers on 16 SEPT.
• Watch out for the RBI policy on 18 SEPT.
• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.
commodity tips
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