INDIAN BENCHMARKS gains after hitting its highest intraday level.
INDIAN EQUITY BENCHMARKS gains 0.23 percent after earlier hitting its highest intraday level since November 2010. Shares of Indian telecom operator’s gain after July-September Quarter 2 earnings results as Bharti Airtel Ltd & TATA Communication were up by 5 -10 percent after they posted a consolidated net profit in the September-quarter.
Further, Dr. Reddy's Laboratories Ltd gains 2.5 percent a day ahead of its July-September earnings. J.P. Morgan downgrades Larsen & Toubro Ltd (L&T) to "neutral" from "overweight", saying the current share price adequately discounts near-term positives.
The crucial resistance for Nifty is now seen at 6270 and above this 6340. Support for the immediate term is now placed at 6200 and next support will be 6150.
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