INDIAN BENCHMARKS breaks 7 day losing streak .
INDIAN EQUITY closed higher central banker Raghuram Rajan's attempt to talk up the rupee and calm equity and bond markets, a day earlier, too helped. Meanwhile, Wholesale Prices Inflation (WPI) numbers accelerated to an eight-month high of 7.0% in October, mainly driven by higher fuel and manufactured goods prices, government data showed on Thursday. WPI had risen 6.46% in September.
Further, Tata Motors has surged over 5%, recovering more than half of its losses recorded after announcements of July-September (Q2) earnings. Coal India is trading lower by 3% at Rs 277 after reported a lower than expected net profit at Rs 3,052 crore for the quarter ended September 30, 2013 (Q2).
The crucial resistance for Nifty is now seen at 6105 and above this 6145. Support for the immediate term is now placed at 6040 and next support will be 5970.
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